New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Sunita accepted a 90 days bill of Rs. 20,000/- drawn by

    Vinita on 05.02.2017. On 13.03.2017 Sunita wished to retire the bill. Vinita offered rebate @ 10% p.a. What is the amount of rebate?
    A 300 Correct Answer Incorrect Answer
    B 312 Correct Answer Incorrect Answer
    C 325 Correct Answer Incorrect Answer
    D 374 Correct Answer Incorrect Answer

    Solution

    The due date of bill falls on 9th May 2017. The bill is retired on 13.03.2017 i.e. 57 days before the due date. Rebate for this period will be 20000 × (10/100) × (57/365)

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