The bankers discount on Rs. 1600 at 15% per annum is the same as true discount on Rs. 1680 for the same time and at the same rate. The time is:

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3 months

4 months

6 months

8 months

Explanation:

S.I. on Rs. 1600 = T.D. on Rs. 1680.

$\therefore$ Rs. 1600 is the P.W. of Rs. 1680, i.e., Rs. 80 is on Rs. 1600 at 15%.

$\therefore$ Time =$ \left(\dfrac{100 \times 80}{1600 \times 15} \right) $year=$ \dfrac{1}{3} $year = 4 months.

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The true discount on a bill of Rs. 540 is Rs. 90. The bankers discount is:

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