A banker discounts a 4 text{ months} bill at | vedclass

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(C) Time period $= 4 	ext{ months} = \frac{4}{12} 	ext{ year} = \frac{1}{3} 	ext{ year}$.The banker's discount on a bill of $Rs. 100$ at $3 \%$ per

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$3 \frac{1}{33}$

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(C) Time period $= 4 	ext{ months} = \frac{4}{12} 	ext{ year} = \frac{1}{3} 	ext{ year}$.The banker's discount on a bill of $Rs. 100$ at $3 \%$ per annum for $\frac{1}{3} 	ext{ year}$ is calculated as: $	ext{Discount} = 100 	imes \frac{3}{100} 	imes \frac{1}{3} = Rs. 1$.The amount paid by the banker (proceeds) $= 100 - 1 = Rs. 99$.To ensure nothing is lost,the interest earned on the proceeds $(Rs. 99)$ over $4 	ext{ months}$ must equal the discount amount $(Rs. 1)$.Let the required interest rate be $R \%$.Using the simple interest formula: $I = \frac{P 	imes R 	imes T}{100}$,we have $1 = \frac{99 	imes R 	imes (1/3)}{100}$.$1 = \frac{33 	imes R}{100} \implies R = \frac{100}{33} = 3 \frac{1}{33} \%$.Thus,the interest rate should be $3 \frac{1}{33} \%$.

$A$ banker discounts a $4 \text{ months}$ bill at $3 \%$. If the proceeds are invested in a manner so that nothing is lost,the interest rate should be (in $\%$):

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