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What is the present value of a bill of Rs. 10000 due in 6 months if the Banker's

Practice Questions

Q1
What is the present value of a bill of Rs. 10000 due in 6 months if the Banker's Discount is Rs. 500?
  1. Rs. 9500
  2. Rs. 9000
  3. Rs. 8500
  4. Rs. 8000

Questions & Step-by-Step Solutions

What is the present value of a bill of Rs. 10000 due in 6 months if the Banker's Discount is Rs. 500?
  • Step 1: Identify the face value of the bill, which is Rs. 10000.
  • Step 2: Identify the Banker's Discount, which is Rs. 500.
  • Step 3: Use the formula for Present Value: Present Value = Face Value - Banker's Discount.
  • Step 4: Substitute the values into the formula: Present Value = 10000 - 500.
  • Step 5: Calculate the result: Present Value = 9500.
  • Step 6: Conclude that the present value of the bill is Rs. 9500.
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