A bill is discounted at 10% per annum. If banker's discount is allowed, at what

Question

A bill is discounted at 10% per annum. If banker's discount is allowed, at what rate percent should the proceeds be invested so that nothing will be lost?

Options:

A . $$10\frac{1}{9}\,\% $$

B . $$11\frac{1}{9}\,\% $$

C . $$11\,\% $$

D . $$10\frac{2}{9}\,\% $$

Answer: Option B

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