Question1. Find the true discount and banker’s gain on a bill for $1550 due 3 months hence at
6% p.a.
Question2. The true discount and banker’s gain on a certain bill of exchange due after a
certain time are respectively $700 and $17.50. Find the face value of the bill.
Question3.A bill of exchange drawn on Jan 4, 2002 for 5 months is discounted on March 26,
2002. If the banker’s discount at 3% p.a. be $603.60, find the face value of the bill.
Question4. A banker discounts a bill for a certain amount which has 30 days to run before it
matures legally at 5%. The discounted value of the bill is $7000. Find the face value of the
bill.
Question5. A merchant has a 4 months bill for $2000 which his broker discounts at 10%. Find
the rate % p.a. at least he should earn on discounted value so that he may not suffer any loss
by discounting bill.
Question6.The banker’s gain on a bill due 3 months hence is $5, the rate of interest being 5%
p.a. Find the sum.
Question7. A bill for $21900 drawn on July 10 for 6 months was discounted for $21720 at 5%
p.a. Find on what day was the bill discounted.
Question8.A bill of exchange drawn on Feb 4, 2000 at 4 months after the day was discounted
on March26, 2000 at 8% p.a. If the banker’s discount is $400, find the face value of bill.
Question9. A bill for $5000 due on June 13 and another bill for $4000 due on Aug25 were
both discounted with a banker on April1. If the difference between the two discounts is $30,
find the rate at which the discount is calculated.
Question10. Mr. X received from Mr. Y acceptance for $9600 on April 1, 2001 for three
months. He got acceptance at 5% p.a. at his bank after one month. How much amount was
received by him from the bank after discounting the bill?
Question11.A bill of exchange for $300 at 4 months after sight was drawn on 12 Jan.1992 and
accepted at
% on 8 Feb.1992. Find banker’s discount and discounted value of the bill.
Question12.A dealer buys a second hand car listed at $3654 and gets successive discounts at
10% and 15%. He spends amount on its repairs and sells it for $3350 there by gaining 10%.
Find the amount spent by the dealer on repairs.
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Question13. Selling price of the air conditioner is $400 and is available at a discount of 15%.
The shopkeeper gives the buyer another off season discount and sells the machine at $310.
Find the off season discount.
Question14. After successive discount of 15% and 10% have been given, the net price of a
commodity is $459. Calculate (i) marked price of the commodity, (ii) A single discount %
payment which is equivalent to the successive discounts of 15% and 10%.
Question15. Find the true present worth and the true discount reckoning simple interest on
the bill of $428 due in 14 months at
p.a.
Question16.A bill due 6 months hence was accepted on 17 June, by discounting it at 5% the
banker gained $2 and it is 1/50 of the true discount at the same rate. Find the amount of the
bill and the date on which it was discounted.
Question17.The difference between true discount and banker’s discount on a bill for $700
legally due in 6 months time is $0.35 on basis of simple interest. Find the rate of interest.
Question18.The true discount on a bill of $320 is $60. The rate of interest is 2%p.a. In how
much time the bill will due?
Question19. Calculate banker’s gain on a bill of $37500 due in 8 months at 8% p.a.
Question20. The banker’s discount calculated for 1 year is 26 times his gain. Find the rate of
interest.
Answers
A1. True discount= $22.91; Banker’s gain= $0.34
A2. $28700
A3. $100600
A4. $7028.8
A5.
A6. $32400
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A7. November 14.
A8. $25000
A9. 5%p.a
A10. $9520
A11. Banker’s discount=$3.58; Discounted value=$296.4
A12. $250
A13.
A14. (i) $600
(ii) 23.5%
A15. Present worth=$411.2 and true discount= $16.8
A16. $5100 and 27 July.
A17. 4.5% approx.
A18. 12 years
A19. $101.27
A20. 4%
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