Question

Find the term of a bill of Rs. 18,450 whose true discount at 5% per annum is Rs.450.​

Answer 1

Given:

A bill of Rs. 18,450 whose true discount at 5% per annum is Rs.450.​

To find:

The term of the bill

Solution:

The face value of the bill i.e., F.V. = Rs. 18450

The true discount i.e., T.D. = Rs. 450

∴ The present worth of the bill i.e.,

P.W. = F.V. - T.D. = Rs. 18450 - Rs. 450 = Rs. 18000

The rate of interest = 5% p.a.

We have the formula as:

$\boxed{\bold{T.D. = \frac{P.W. \times Rate \times Time}{100} }}$

On substituting the values in the above formula, we get

$450 = \frac{18000 \times 5 \times Time}{100}$

$\implies 450 = 180 \times 5 \times Time$

$\implies 45 = 18 \times 5 \times Time$

$\implies 45 = 90 \times Time$

$\implies Time = \frac{45}{90}$

$\implies Time = \frac{1}{2}\:year$

$\implies \bold{Time = 6\:months}$

Thus, the term of a bill of Rs. 18,450 whose true discount at 5% per annum is Rs.450 is → 6 months.

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