Question

n of
p.a.
13. A bill of Rs.51,000 was drawn on
18th February 2010 for 9 months. It was
encashed on 28th June 2010 at 5% p.a.
Calculate the banker's gain and true
discount
2
​

Answer 1

Given:

A bill of Rs.51,000 was drawn on 18th February 2010 for 9 months. It was encashed on 28th June 2010 at 5% p.a.

To find:

Calculate the banker's gain and true discount.

Solution:

From given, we have,

S = Rs. 51,000

r = 5%

As the bill period is of 9 months

⇒ n = 28th June to 21st Nov

= 146 days

= 146/365

= 2/5 years

1. BD = Snr/100 = 51000 × 2/5 × 5/100 = 1020

∴ BD = Rs. 1020

2. BG = BD - TD

TD×n×r/100 = 1020 - TD

TD×2/5×5/100 = 1020 - TD

TD/50 + TD = 1020

TD( 1/50 + 1) = 1020

TD(51/50) = 1020

TD = 1020 × 50/51

∴ TD = Rs. 1000

3. BG = BD - TD

= 1020 - 1000

= 20

∴ BG = Rs. 20