Banker’s gain on a bill due after 6 months at 4% p.a. is 24. Find tr

1.	Banker’s gain on a bill due after 6 months at 4% p.a. is 24. Find true discount and Banker’s discount,
Answer» Given B.G = 24. T = 6 months, = \(\frac{1}{2}\)yr, r = 4% = 0.0 BG = TD + r 24 = TD × \(\frac{1}{2}\) × 0.04 \(TD = \frac{24 \times 2}{0.04} = \frac{24 \times200}{4} = 1200\) TD = 1200 BG = BD – TD ⇒ BD = BG + TD = 24 + 1200 = 1224

Banker’s gain on a bill due after 6 months at 4% p.a. is 24. Find true discount and Banker’s discount,

Answer»

Given B.G = 24. T = 6 months, = \(\frac{1}{2}\)yr, r = 4% = 0.0

BG = TD + r

24 = TD × \(\frac{1}{2}\) × 0.04

\(TD = \frac{24 \times 2}{0.04} = \frac{24 \times200}{4} = 1200\)

TD = 1200

BG = BD – TD ⇒ BD = BG + TD = 24 + 1200 = 1224

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Banker’s gain on a bill due after 6 months at 4% p.a. is 24. Find true discount and Banker’s discount,

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