A banker paid Rs.5767.50 for a bill of Rs.5840, drawn on April 4, at 6 months. On what day was the

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28 Jun 2016 Rate of interest

A banker paid Rs.5767.50 for a bill of Rs.5840, drawn on April 4, at 6 months. On what day was the bill discounted, the rate of interest being 7%?

OPtion

1) 2 August
2) 9 August
3) 4 August
4) 8 August
5) 6 August
6) 7 August
7) 1 August
8) 3 August
9) 5 August
10)None of these

Solution

B.D. = Rs.(5840 - 5767.20) = Rs.72.80
=> Rs.72.80 is S.I. on Rs.5840 at 7%
So unexpired time = 100*72.80 / 7*5840 years = 13/73 = 65 days
Now, date of draw of bill = April, 4 at 6 months
Nominally due date = October, 4
Legally due date = October, 7
So, we must go back 65 days from October, 7
Oct. Sept. Aug.
7+ 30+ 28
i.e., The bill was discounted on 3rd August.

Correct Option: 8 Best Solution (5)

ABHINAV PUSHPAM   8 years AGO

B.D. = Rs. (5840 - 5767.20) = Rs. 72.80
Rs. 72.80 is S.I. on Rs. 5840 at 7%
So, Unexpired time = (100 x 72.80) / (7 x 5840) = 13/73 years = 65 days.
Now, date of draw o bill = April, 4 at 6 months.
Nominally due date = October 4
Legally due date = October 7
So, we must go back 65 days from October 7.
Oct., sept., Aug. = 7 + 30 + 28
i.e., The bill was discounted on 3rd August..

Option 8)

Like? Yes (3) | No (2)  

RAHUL KUMAR   8 years AGO

B.D. = Rs. (5840 - 5767.50) = Rs 72.50

Rs. 72.80 is S.I. on Rs. 5840 at 7%
So, Unexpired time = (100 x 72.50) / (7 x 5840) = 13/73 years = 65 days.

Now, date of draw bill = April, 4 at 6 months.

Nominally due date = October 4.
Legally due date = October 7
So, we must go back 65 days from October 7.
Oct., sept., Aug. = 7 + 30 + 28

i.e., The bill was discounted on 3rd
August.

option (8)

Like? Yes | No (1)  

Divesh Singla   8 years AGO

B.D. = Rs. (5840 - 5767.20) = Rs. 72.80
Rs. 72.80 is S.I. on Rs. 5840 at 7%
So, Unexpired time = (100 x 72.80) / (7 x 5840) = 13/73 years = 65 days.
Now, date of draw o bill = April, 4 at 6 months.
Nominally due date = October 4.
Legally due date = October 7
So, we must go back 65 days from October 7.
Oct., sept., Aug. = 7 + 30 + 28
i.e., The bill was discounted on 3rd August.

Like? Yes | No (1)  

Akshat Mokashi   8 years AGO

bd=5840-5767.50=72.50
Rs. 72.50 is SI on Rs 5840 at 7%.
So unexpired time=((100x72.50)/(7x5840))x365=64.7 approx to 65 days
Now date of drawn of bill=April 4,at 6 months.
Nominally due date=Oct. 4
legally due date=Oct. 7
So, we must go 65 days back from Oct. 7
Oct,sep,aug=7+30+28
so bill was discounted on 3 aug

Like? Yes | No (1)  

Mukund Manohar   8 years AGO

B.D. = Rs (5840 - 5767.50) = Rs 72.50
Rs 72.50 is S.I. on Rs. 5840 at 7%
So, Unexpired Time = (100*72.50)/(7*5840) years
= 64.73 days = 65 days
Now,Date of drawing of the bill = April 4 at 6 months
Nominally Due Date = October 4
Legally Due Date = October 7
So,65 days before October 7 is August 3
The bill was discounted on 3rd August.

Like? Yes | No (2)