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The banker’s discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:

/ Aptitude, Banker's Discount / By
Question:
The banker’s discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:

[A].

Rs. 400

[B].

Rs. 360

[C].

Rs. 480

[D].

Rs. 320

Answer: Option A

Explanation:

T.D.
= B.D. x 100
100 + (R x T)
= Rs. 420 x 100
100 + 15 x 1
3
= Rs. 420 x 100
105
= Rs. 400.