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What is the maturity value of a bill of $1000 with a Banker's Discount of $20 for 3 months?

Practice Questions

1 question
Q1
What is the maturity value of a bill of $1000 with a Banker's Discount of $20 for 3 months?
  1. $980
  2. $1000
  3. $1020
  4. $1040

Questions & Step-by-step Solutions

1 item
Q
Q: What is the maturity value of a bill of $1000 with a Banker's Discount of $20 for 3 months?
Solution: Maturity Value = Principal + BD = 1000 + 20 = $1020
Steps: 5

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