Question

T=
When B.D. = 11, the T.D. = 10 and B.G. = 1
T.D x R x T B.G.x 100
We have, B.G. =
100
T.D.R
1x100
..
T-
= 2 years
10 x 5
Hence, the Bill was discounted before 2 years.
EXERCISE 6(E)
1. A bill for 10,000 was drawn on 1-1-2005 due 5 months hence. It wa discounted on 23-3-2005
at 5% p.a. Find (i) Banker's Discount, (i) Discounted Value (ii) True Discount (iv) Retired
Value and (v) Banker's Gain.
Ans. [(i) 100, (iv) 9900, (ii) 99, (iv) 9,901 (v) Re. 1]
2. A bill for 20,200 after sight drawn on 25-5-2005 at 6 months was accepted on 31-5-205 by the
debtor. It was discounted for 720,000 at 5% p.a. Find : (i) Discounting period (ii) Date of
discounting, (ii) True discout, (iv) Present value, (v) Retired Value, and (0) Banker's Gain.
Ans. [(i) 73 days, (ii) 21st Sept., (iii) 200, (iv) ? 20,000, (v) * 20,000, (vi) * 2]
3. A bill for 350,000 drawn on 1-4-2005 at 6 months was discounted on July 23 for 49,500. Find
(i) Banker's discount (ii) nominal rate of interest (iii) effective rate of interest earned by the
bankers and (iv) Present Value.
5
Ans. [(i)* 500, (i) 5%, (iii) 5
99
%, (iv)? 48,780,50​

Answer 1

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Step-by-step explanation:

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