COMPLEX PROBLEMS
1.A bill for Rs.6000 is drawn on July 14 at 5 months . It is discounted on 5th October at 10%.Find the bankers discount true discount, bankers gain and the money that the holder of the bill receives.
Sol:-
Face value of the bill = Rs.6000
date on which the bill was drawn = July 14 at 5 months
nominally due date = December 14
legally due date = December 17
Date on which the bill was discounted = October 5
Unexpired time : Oct Nov Dec
26 + 30 + 17 = 73days =1/5 years
B.D = S.I on Rs 6000 for 1/5 year
= Rs (6000 * 10 * 1/5 * 1/100) = Rs 120
T.D = Rs(6000 * 10 *1/5)/(100 + (10 * 1/5))
= Rs. 117.64
B.G = (B.D) - (T.D)
= Rs(120 -117.64)
= Rs 2.36
Money received by the holder of the bill
= Rs(6000 - 120) = 5880
2. The bankers gain on a certain sum due 1 ½ year hence is 3/25 of the bankers discount .The rate percent is?
Sol:- Let B.D = 1 then B.G = 3/25
T.D = (B.D - B.G)
= (1 - 3/25)
= 22/25
sum = (1 * 22/25) / (1 - 22/25)
= 22/3
S.I on Rs 22/3 for 1 ½ year is 1.
Rate = (100 * 1) / (22/3 * 3/2)
= 9 1/9%
3. The bankers gain of a certain sum due 2 years hence at 10% per annul is Rs 24 .The percent worth is?
Sol:-
T.D = (B.G * 100) / (Rate * Time)
00) / (10 * 2)
= 120.
P.W = (100 *T.D) / (Rate * Time)
= (100 * 120) /(10 * 2)
= 600
