The true discount on a bill of Rs. 1860 due after 8 months is Rs. 60. Find the banker’s discount ?
Answer: A
Amount = Rs. 1860.
True discount = Rs. 60
∴ Present worth = Rs. 1860 – Rs. 60 = Rs. 1800
S.I. on Rs. 1800 for 8 months = Rs. 60
∴ Rate = [(100 * 60) / (1800 * 2/3)]% = 5%
∴ Banker’s discount = (1860 * 5 * 2/3)/100 = Rs. 62