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

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(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 $Rs.$).

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