A bill is discounted at 5 % per annum. If ban | vedclass

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(C) Let the face value of the bill be $Rs. 100$.Given that the banker's discount rate is $5 \%$ per annum.Banker's Discount $(B.D.)$ $= Rs. 5$.Proceed

Vedclass · Accepted Answer

$5\frac{5}{19}$

Vedclass · Answer

(C) Let the face value of the bill be $Rs. 100$.Given that the banker's discount rate is $5 \%$ per annum.Banker's Discount $(B.D.)$ $= Rs. 5$.Proceeds $= 	ext{Face Value} - B.D. = 100 - 5 = Rs. 95$.To ensure nothing is lost, the interest earned on the proceeds $(Rs. 95)$ must equal the banker's discount $(Rs. 5)$ for the same period ($1$ year).Let the required rate of interest be $R \%$.Using the formula: $	ext{Interest} = \frac{P 	imes R 	imes T}{100}$.$5 = \frac{95 	imes R 	imes 1}{100}$.$R = \frac{5 	imes 100}{95} = \frac{500}{95} = \frac{100}{19} = 5\frac{5}{19} \%$.

$A$ bill is discounted at $5 \%$ per annum. If banker's discount be allowed, at what rate of interest must the proceeds be invested, so that nothing is lost? (in $\%$)

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