A broker discount a bill for certain amount which has 3 months to run

1.	A broker discount a bill for certain amount which has 3 months to run before it matures legally at 5 1/2% p.a. If the discounted value of the bill is Rs 31,560, find the face value of the bill.
Answer» Let the face value be x. ∴ Discounted value = \(\frac{x \times 5\frac12}{100} = \frac{11x}{200}\) \(\therefore \frac{11x}{200} = 31500\) ⇒ \(\frac{31560\times 200}{11} = 578181.18\)

A broker discount a bill for certain amount which has 3 months to run before it matures legally at 5 1/2% p.a. If the discounted value of the bill is Rs 31,560, find the face value of the bill.

Answer»

Let the face value be x.

∴ Discounted value = \(\frac{x \times 5\frac12}{100} = \frac{11x}{200}\)

\(\therefore \frac{11x}{200} = 31500\)

⇒ \(\frac{31560\times 200}{11} = 578181.18\)

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A broker discount a bill for certain amount which has 3 months to run before it matures legally at 5 1/2% p.a. If the discounted value of the bill is Rs 31,560, find the face value of the bill.

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