A bill for Rs. 3000 is drawn on 14th July at 5 months. It is discounted on 5th October at 10%. What is the Banker's Discount?  Choices: A) Rs. 60 B) Rs. 82 C) Rs. 90 D) Rs. 120 E) None of these
Explanation :   F = Rs. 3000   R = 10%   Date on which the bill is drawn = 14th July at 5 months   Nominally Due Date = 14th December   Legally Due Date = 14th December + 3 days = 17th December   Date on which the bill is discounted = 5th October   Unexpired Time   = [6th to 31st of October] + [30 Days in November] + [1st to 17th of December] = 26 + 30 + 17= 
<gadget id="calculator">26 + 30 + 17</gadget>
<output>73</output>
73 Days=73/365 year=1/5 year   BD = Simple Interest on the face value of the bill for unexpired time   =FTR/100=[3000×(1/5)×10]/100=30×1/5×10 = Rs. 60 Rs. 60nswer : Option Rs. 60
<result>A</result>
A bill for Rs. 3000 is drawn on 14th July at 5 months. It is discounted on 5th October at 10%. What is the Banker's Discount?