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1. The banker's discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:

A. Rs. 400

B. Rs. 360

C. Rs. 480

D. Rs. 320

Solution:

\begin{aligned} T . D . = \frac{B . D . \times 100}{100 + (R \times T)} \\ = R s . [\frac{420 \times 100}{100 + (15 \times \frac{1}{3})}] \\ = R s . (\frac{420 \times 100}{105}) \\ = R s . 400 \end{aligned}

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