40. The bankers discount and true discount on a sum of money due 8 months
hence are Rs.120 & Rs.110 resp. Find the sum & the rate per cent
Answer:
Sum = (B.D * T.D) / (B.D) – (T.D)
= (120 * 110) / (120 – 110)
= 1320
Since B.D is S.I on sum due, so S.I on Rs 1320 for 8 months is
Rs 120
Rate = (100 * 120) / (1320 * 2/3)
