Banker's Discount: Tactics for Online Aptitude Test
If you are preparing for quantitative aptitude test, you might have gone through the syllabus. There are so many important topics listed in the sub-sections, and each one of them contributes to improving your chances to score high. Whether you are preparing for the certain entrance exam, trying to step into the banking sector or it is some competitive exam for your career path; aptitude is always an essential part of online tests.
Experts reveal that if you master some trusted tricks and techniques related to the career aptitude test, it is possible to score high. The prime target for enthusiasts is to focus on time constraints and maintain accuracy. If you fail to touch some questions in the exam due to lack of time, your score may go low. Also, if you do them incorrectly in a hurry; it is again going to pose major harm. In short, practice is the key that can help you score high in the game. Prefer to go through previous year questions and try all those questions. At the same time, you must practice questions given in various popular books that are written especially for the CAT exam.
Among so many important topics listed in the online aptitude test, here we are going to talk about banker’s discount. It is one of the most important section that can help you improve your score; but only if you do them right. In order to know more about these problems, let us go through the details below:
Banker’s discount problems:
Let us consider a situation where some trader makes a purchase for goods by paying the amount of worth 500 rupees to the other trader. Note that the credit offered by trader A to trader B is 4 months. In this situation, trader B makes a bill that is defined as a bill of exchange or in more precise terms; it is called Hundi. The moment A receives requested goods from B, he signs a document or agreement in favor of B, giving him authority to withdraw the set amount as soon as the credit period of 4 months is over. In this scenario, the date that comes after four months is known as the nominally due date. Once you understand this concept, it will be easier to go through banker’s discount problems, and the chances are that you can solve them with higher accuracy.
When three more days are included in the set 4 months duration, the new date is called as the legally due date. Now, if the trader B approach the bank before the legally due date to get his money back; banker gives him amount lesser than the actual value. The fee deducted by the bank on the face value is simple interest, and it is charged just because trader B asked for the money before the expiration date. This deduction is defined as Bankers Discount. In simple terms, it is the simple interest applied on the face value for the date when the bill was discounted to the legally due date.
Who are all can get the benefits from this QUANTITATIVE APTITUDE Question and Answers section?
Candidates preparing for following competitive exams can utilize Aptitude section to improve their skills.
- Bank Competitive Exam
- MPSC Competitive Exams
- SSC Competitive Exams
- L.I.C/ G. I.C Competitive Exams
- Railway Competitive Exam
- University Grants Commission (UGC)
- NET/ SET Competitive Exam
- Common Aptitude Test (CAT)
- Career Aptitude Test (IT Companies)
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