The banker's discount on $1600 at 15% per annum is the same as true discount on $1680 for the same time and at the same rate. The time is:  Choose the correct choice from the following answers: A) 2 months B) 1 months C) 4 months D) 8 months E) 9 months
S.I. on $1600 = T.D. on $1680.   THEREFORE $1600 is the P.W. of $1680, i.e., $80 is on $1600 at 15%.   Time =(100 x 80/ 1600 x 15) year	=	1/3	year = 4 months.   ANSWER:4 months
<result>C</result>
The banker's discount on $1600 at 15% per annum is the same as true discount on $1680 for the same time and at the same rate. The time is: