Banker discount - Quantitative Aptitude (MCQ) questions for Q. 127

Q.  What is the true discount if a banker’s discount on a bill due 4 months hence is 420 at 15%?
- Published on 15 Jun 15

a. 400
b. 410
c. 390
d. 380

ANSWER: 400
 
Using the formula:

True Discount = (Banker’s Discount * 100 * 100)+ Total Rate

=> True Discount = 420*100/100+15
= 400

Thus the true discount is Rs 100.

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