The banker's gain on a bill due 1 year hence at 12% per annum is Rs. 6. The true discount is:
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Banker's gain → B.G = ₹6
Rate of interest → R = 12%
Time → T = 1 year
True Discount → TD
TD = (B.G×100/R×T)
→ (6×100/12×1)
→ 600/12
→ ₹50
Rate of interest → R = 12%
Time → T = 1 year
True Discount → TD
TD = (B.G×100/R×T)
→ (6×100/12×1)
→ 600/12
→ ₹50
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