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    Question

    A company discounts an invoice of ₹10 lakh at a

    discount rate of 12% p.a. for 90 days. How much amount will the company receive immediately?
    A ₹9.70 lakh Correct Answer Incorrect Answer
    B ₹9.80 lakh Correct Answer Incorrect Answer
    C ₹9.90 lakh Correct Answer Incorrect Answer
    D ₹9.60 lakh Correct Answer Incorrect Answer
    E ₹9.50 lakh Correct Answer Incorrect Answer

    Solution

    Discount = Principal × Rate × Time = 10,00,000 × 12% × (90/360) ≈ ₹30,000 Amount received = ₹10,00,000 - ₹30,000 = ₹9,70,000 

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