Exams › IBPS PO › Quantitative Aptitude

The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker's discount is:

1. Rs. 960
2. Rs. 840
3. Rs. 1020
4. Rs. 760

Correct answer: Rs. 1020

Solution

Banker's gain equals the difference between banker's discount and true discount. For a bill due in 3 years at 12%, the standard formula gives the banker's discount once the gain is known. Substituting the values yields Rs. 1020.

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