Exams › IBPS PO › Quantitative Aptitude
The banker's discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:
- Rs. 400
- Rs. 360
- Rs. 480
- Rs. 320
Correct answer: Rs. 400
Solution
Banker's discount is calculated on the face value, while true discount is calculated on the present worth. Using the standard relation between them for 4 months at 15%, the true discount is Rs. 400.
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