Question

The banker's discount on a certain sum due 2 years hence is11/10of the true discount.
The rate percent is:

A) 10% B) 7% C) 8% D) 5%

Answer 1

Answer:

option C

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Answer 2

Answer—- D) 5%

Explanation—

Let true discount be= ₹1
Then banker’s discount= 11/10= ₹1.10
Sum= ₹(1.10*1) / (1.10-1)= ₹(110/10) =₹11
SI on ₹11 for 2 years is= ₹ 1.10
Rate= [( 100 x 1.10)/11 x 2)]% =5%

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