A bill of RS 4800 is drawn on 9th March 2006 at 6th March discounted on 19th April 2006 for 6
¼%p.a .how much does the banker charge and how much does the holder receive?
Answers
Answer:
A bill for Rs. 6000 is drawn on July 14 at 5 months. It is discounted on 5th October at 10%. Find the banker's discount, true discount, banker's gain and the money that the holder of the bill receives.
A) 4390
B) 6580
C) 5880
D) 5350
Answer: C) 5880
Explanation:
Face value of the bill = Rs. 6000.
Date on which the bill was drawn = July 14 at 5 months. Nominally due date = December 14.
Legally due date = December 17.
Date on which the bill was discounted = October 5.
Unexpired time : Oct. Nov. Dec.
26 + 30 + 17 = 73 days =1/ 5Years
B.D. = S.I. on Rs. 6000 for 1/5 year
= Rs. (6000 x 10 x1/5 x1/100)= Rs. 120.
T.D. = Rs.[(6000 x 10 x1/5)/(100+(10*1/5))]
=Rs.(12000/102)=Rs. 117.64.
B.G. = (B.D.) - (T.D.) = Rs. (120 - 117.64) = Rs. 2.36.
Money received by the holder of the bill = Rs. (6000 - 120) = Rs. 5880.
not exact , but same....
Answer:
Rs 5880 is the answer ❣️❣️