What is the present value,banker's discount of Rs.104500 due in 9 months at 6% per annum?
Rs. 100000,Rs. 4702.50
Rs. 200000,Rs. 4702.50
Rs. 150000,Rs. 4702.50
Rs. 100000,Rs. 5002.50
Explanation:
Given that,
Amount = RS. 104500
Time = 9/12 years=3/4 years
Rate = 6%
Now,
Banker's Discount, BD =$\dfrac{A*T*R}{100}$
=$\dfrac{104500×3/4×6}{100}$
=1045×3/4×6
= Rs. 4702.50
Present value, PW =$\dfrac{F}{1+T(\dfrac{R}{100})}$
=$\dfrac{104500}{1+(\dfrac{3}{4})(\dfrac{6}{100})}$
=Rs. 100000