The banker's profit on a particular sum due in one year is three times the banker's 2 25 discount. The percentage rate is:
A. 5 1/5%
B. 9 1/11%
C. 8 1/8%
D. 6 1/6%
Answer:C
The banker's profit on a particular sum due in one year is three times the banker's 2 25 discount. The percentage rate is:
A. 5 1/5% B. 9 1/11% C. 8 1/8% D. 6 1/6%
Explanation: Let B.D = Re. 1 be the case.B.G. = Re. 3/25, then.T.D. = (B.D. - B.G.) = Re.1 - 3/25= Rs. 22/25 T.D. = (B.D. - B.G.) = Re.1 - 3/25= Rs. 22/25 T.D. = (B.D.),1 x (22/25)/1 - (22/25) = Rs.22/3,S.I. for 1 1/2 years on Rs.22/3 is Re. 1.Rate = 100% x 1% /22/3x3/2=100/11 = 9 1/11 percent.