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

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

Question

(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 $\%$)

Similar Questions

If two successive discounts of $50 \%$ and $10 \%$ are offered,what is the net discount (in $\%$) ?

$A$ has to pay $Rs. 220$ to $B$ after $1$ year. $B$ asks $A$ to pay $Rs. 110$ in cash and defers the payment of the remaining $Rs. 110$ for $2$ years. $A$ agrees to it. Counting the rate of interest at $10\%$ per annum in this new mode of payment,which of the following is true?

At what percent above the cost price must a person mark the price of an article so that he can enjoy $20 \%$ profit after allowing $20 \%$ discount?

The $T.D.$ on $Rs. 936$ due after a certain time at $8\%$ per annum is $Rs. 36$. The money is due after (in months):

An article is marked $40 \%$ above the cost price and a discount of $30 \%$ is allowed. What is the gain or loss percentage?

Vedclass Test Series

Exam Paper Generator

Online Exam Module