Question

Find the banker’s gain on a bill of Rs.3,750 due in 8 months at 8% p.a.

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Answer 1

Answer:

words from the alternatives given in the brackets he should be lurking in Shadow/searching / stay lying / stay hiding ?

Answer 2

The banker's gain on the bill would be Rs. 200.

To Find:

• The amount of a bill is given as Rs. 3,750.
• The due date for the bill is 8 months from now.
• The interest rate for the bill is given as 8% per annum.

Given:

• The banker's gain on this bill, which is the interest that the borrower would pay to the banker over the period of 8 months.

Solution:

To find the banker's gain on a bill of Rs. 3,750 due in 8 months at 8% per annum, we need to calculate the interest that the borrower would pay to the banker.

The formula for calculating interest on a simple interest loan is:

I = P * R * T

Where I is the interest, P is the principal (the amount borrowed), R is the interest rate as a decimal, and T is the time in years.

In this case, P = 3750, R = 8/100 = 0.08, and T = 8/12 = 0.67 years (8 months converted to years).

So, the interest would be:

I = 3750 * 0.08 * 0.67 = 200

Therefore, the banker's gain on this bill would be Rs. 200.

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