The bankers discount on a certain sum due 2 years hence is \(\frac{11}{10}\)&nbs

Question

The bankers discount on a certain sum due 2 years hence is \(\frac{11}{10}\) of the true discount The rate percent is:

Options:

A . 11%

B . 10%

C . 5%

D . 5.5%

Answer: Option C

Let T.D. be Re. 1.

Then, B.D. = Rs. \(\frac{11}{10}\) = Rs. 1.10

So, Sum = Rs. \(\left(\frac{1.10\times1}{1.10-1}\right) = Rs. \left(\frac{110}{10}\right) = Rs. 11.\)

So, S.I. on Rs. 11 for 2 years is Rs. 1.10

So, Rate = \(\left(\frac{110\times1.10}{11\times2}\right)\) % = 5%

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