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What is the present value of a bill of Rs. 25000 due in 4 months with a Banker's

Practice Questions

Q1
What is the present value of a bill of Rs. 25000 due in 4 months with a Banker's Discount of Rs. 500?
  1. Rs. 24500
  2. Rs. 24000
  3. Rs. 25000
  4. Rs. 25500

Questions & Step-by-Step Solutions

What is the present value of a bill of Rs. 25000 due in 4 months with a Banker's Discount of Rs. 500?
  • Step 1: Identify the face value of the bill, which is Rs. 25000.
  • 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 = 25000 - 500.
  • Step 5: Calculate the present value: 25000 - 500 = Rs. 24500.
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