The banker's 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:
SI. On Rs. 1600 is = T.D. on Rs. 1680
Therefore, RS 1600 is the P.W. of Rs. 1680
This is to mean that Rs. 80 is on Rs. 1500 at 15%
Therefore time will be given by:
Time= [100x80/1600x15] year= 1/3 year= 4 months
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