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The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker's discount is:
ARs. 960
BRs. 840
CRs. 1020
DRs. 760
ENone of these
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Let Amount=X
Banker's Gain (B.G) = Banker's Discount (B.D) - True Discount (T.D)
270 = (X*12*3)/100 - (X*12*3)/(100 (12*3))
X=2833.33
B.D=2833.33*12*3/100
B.D=1020
So Option C is correct
Asked In ::
Let Amount=X
Banker's Gain (B.G) = Banker's Discount (B.D) - True Discount (T.D)
270 = (X*12*3)/100 - (X*12*3)/(100 (12*3))
X=2833.33
B.D=2833.33*12*3/100
B.D=1020
So Option C is correct
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Banker's gain= (True Discount*rate*time)/100
So, true discount = Rs.((270*100)/(2*3))
= Rs. 750
So, banker's discount= (banker's gain+true discount)
= Rs.(750+270)
= Rs. 1020.
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