Exercise 1.21. What is the present worth of a sum of Rs.10,920 due six months hence at 8% p.a. simple interest?2. What is sum due of Rs.8,000 due 4 months hence at 12.5% simple interest?3. True discount on the sum due 8 months hence at 12% p.a. is Rs.560. Find the sum due and present worth of the bill.4. The true discount on a sum is 3/8 of the sum due at 12% p.a. Find the period of the bill.5. 20 copies of a book can be purchased for a certain sum payable at the end of 6 months and 21 copies for the same sum in ready cash. Find the rate of interest.6. Find the true discount, Banker’s discount and Banker’s gain on a bill of Rs.4,240 due 6 months hence at 9% p.a.7. True discount on a bill is Rs.2,200 and bankers discount is Rs.2,310. If the bill is due 10 months, hence, find the rate of interest.8. A bill of Rs.6,395 drawn on 19th January 2015 for 8 months was discounted on 28th February 2015 at 8% p.a. interest. What is the banker’s discount? What is the cash value of the bill?9. A bill of Rs.8,000 drawn on 5th January 1998 for 8 months was discounted for Rs.7,680 on a certain date. Find the date on which it was discounted at 10% p.a.10. A bill drawn on 5th June for 6 months was discounted at the rate of 5% p.a. on 19th October. If the cash value of the bill is Rs 43,500, find face value of the bill.11. A bill was drawn on 14th April for Rs.7,000 and was discounted on 6th July at 5% p.a. The Banker paid Rs.6,930 for the bill. Find period of the bill.12. If difference between true discount and banker’s discount on a sum due 4 months hence is Rs 20. Find true discount, banker’s discount and amount of bill, the rate of simple interest charged being 5%p.a.13. A bill of Rs.51,000 was drawn on 18th February 2010 for 9 months. It was encashed on 28th June 2010 at 5% p.a. Calculate the banker’s gain and true discount.14. A certain sum due 3 months hence is 21/20 of the present worth, what is the rate of interest?15. A bill of a certain sum drawn on 28th February 2007 for 8 months was encashed on 26th March 2007 for Rs.10,992 at 14% p.a. Find the face value of the bill.
