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      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. 
      A ₹5,000 and ₹1,95,000 Correct Answer Incorrect Answer
      B ₹4,931.5 and ₹1,95,068.5 Correct Answer Incorrect Answer
      C ₹4,500 and ₹1,95,500 Correct Answer Incorrect Answer
      D ₹6,000 and ₹1,94,000 Correct Answer Incorrect Answer

      Solution

      Discount = 2,00,000 × 10% × 90/360 = ₹5,000 Net = ₹2,00,000 – ₹5,000 = ₹1,95,000

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