Paper 4: Fundamentals of Business Mathematics & Statistic

1.24 I FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS

Arithmetic

SELF EXAMINATION QUESTIONS

Problems regarding T.D. B.D. B.G.

1. At the rate of 4% p.a. find the B.D., T.D. and B.G. on a bill of exchange for 650 due 4 months hence. [Ans. 8.67; ` 8.55; Re. 0.12]


2. Find the difference between T.D. and B.D. on ` 2020 for 3 months at 4% p.a. Show that the difference
   is equal to the interest on the T.D. for three months at 4%. [Ans. Re. 0.20]


3. Find the T.D. and B.D. on a bill of 6100 due 6 months hence, at 4% p.a. [Ans. 119.61; `122]


4. Find out the T.D. on a bill for 2550 due in 4 months at 6% p.a. Show also the banker’s gain in this case.
   [Ans. ` 50, Re.1]


5. Find the T.D. and B.G. on a bill for 1550 due 3 months hence at 6% p.a. [Ans. 22.9]; ` 0.34]


6. Calculate the B.G. on 2500 due in 6 months at 5% p.a. [Ans. 1.54]


7. If the difference between T.D. and B.D. on a bill to mature 2 months after date be Re. 0.25 at 3% p.a.;
   find.(i) T.D. (ii) B.D. (iii) amount of the bill. [Ans. 50; 50.25; `10,050]


8. If the difference between T.D. and B.D.(i.e. B.G.) on a sum of due in 6 months at 4% is 100 find the amount of the bill. [Ans. 2,55,000]
   [hints : refer solved problem no 55]


9. If the difference between T.D. and B.D. of a bill due legally after 73 days at 5% p.a. is `10, find the
   amount of the bill. [Ans. 1,01,000]


10. If the banker’s gain on a bill due in four months at the rate of 6% p.a. be 200, find the bill value, B.D. and T.D. of the bill. [Ans.5,10,000; 10,200; `10,000]


11. A bill for 750 was drawn on 6th March payable at 6 months after date, the rate of discount being 4.5% p.a. It was discounted on 28th June. What did the banker pay to the holder of the bill? [Ans. 743.62]


12. A bill of exchange for 846.50 at 4 months after sight was drawn on 12.1.2013 and accepted on 16th January and discounted at 3.5% on 8th Feb.2013. Find the B.D. and the discounted value of the bill. [Ans. 8.18; ` 838.32]


13. A bill of exchange for ` 12,500 was payable 120 days after sight. The bill was accepted on 2nd Feb.2013
    and was discounted on 20th Feb. 2013 at 4%. Find the discounted value of the bill.
    [Ans. 12,356.17]


14. A bill for 3,225 was drawn on 3rd Feb. at 6 months and discounted on 13th March at 8% p.a. For what sum was the bill discounted and how much did the banker gain in this? [Ans. 3121.80; ` 3.20]
    Problems regarding rate of interest :


15. What is the actual rate of interest which a banker gets for the money when he discounts a bill legally
    due in 6 months at 4% p.a. [Ans. 4.08% approx]


16. What is the actual rate of interest which a banker gets for the money when he discounts a bill legally
    due in 6 months at 5%.[Ans.^539 %]


17. If the true discounted of a bill of 2613.75 due in 5 months be 63.75; find rate of interest.
    [Ans. 6%]