Question
A bill of ₹2,00,000 is drawn for 90 days and
discounted at 10% p.a. Calculate the amount of discount and proceeds received. Assume 360 days in a year.Solution
Discount = 2,00,000 × 10% × 90/360 = ₹5,000 Net = ₹2,00,000 – ₹5,000 = ₹1,95,000
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