A bill for Rs. 8000 is drawn on September 19 | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(C) Face value of the bill $= Rs. 8000$.Date on which the bill was drawn $=$ September $19$ for $6$ months.Nominally due date $= March 19$.Legally due

Vedclass · Accepted Answer

$7840$

Vedclass · Answer

(C) Face value of the bill $= Rs. 8000$.Date on which the bill was drawn $=$ September $19$ for $6$ months.Nominally due date $= March 19$.Legally due date (adding $3$ days of grace) $= March 22$.Date on which the bill was discounted $=$ January $8$.Unexpired time from January $8$ to March $22$:January ($23$ days) $+$ February ($28$ days) $+$ March ($22$ days) $= 73$ days $= \frac{73}{365} = \frac{1}{5}$ years.Banker's Discount $(B.D.)$ $=$ Simple Interest on $Rs. 8000$ for $\frac{1}{5}$ years at $10\%$.$B.D. = 8000 	imes 0.10 	imes \frac{1}{5} = Rs. 160$.True Discount $(T.D.)$ $= \frac{B.D. 	imes 100}{100 + (R 	imes T)} = \frac{160 	imes 100}{100 + (10 	imes 0.2)} = \frac{16000}{102} \approx Rs. 156.86$.Banker's Gain $(B.G.)$ $= B.D. - T.D. = 160 - 156.86 = Rs. 3.14$.Money received by the holder of the bill $=$ Face Value $- B.D. = 8000 - 160 = Rs. 7840$.

$A$ bill for $Rs. 8000$ is drawn on September $19$ for $6$ months. It is discounted on January $8$ at $10\%$. Find the banker's discount,true discount,banker's gain,and the money that the holder of the bill receives (in $Rs.$).

Similar Questions

The price of a bicycle is marked by a trader at $Rs.\, 1000$. He sold the bicycle allowing successive discounts of $20 \%, 10 \%$ and $5 \%$. If the trader gained $14 \%$,then the cost price of the bicycle (in $rupees$) is:

If a shopkeeper allows a $20 \%$ discount on his advertised price and makes a profit of $25 \%$ on his outlay,what is the advertised price (in $Rs.$) on which he gains $Rs. 6000$?

After giving a discount of $20 \%$ on an article,a shopkeeper gains $20 \%$. What is the percentage mark-up?

Find the present worth $(P.W.)$ and the true discount $(T.D.)$ reckoning $6 \%$ per annum simple interest of $Rs. 176$ due in $20 \text{ months}$ time. (in $Rs.$)

The marked price of an article is twice the cost price. For a gain of $30 \%$,what should be the discount percentage?

Vedclass Test Series

Exam Paper Generator

Online Exam Module