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What is the effective amount received if a bill of Rs. 20000 is discounted at 10

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Question: What is the effective amount received if a bill of Rs. 20000 is discounted at 10% for 3 months?

Options:

  1. Rs. 19500
  2. Rs. 19800
  3. Rs. 19750
  4. Rs. 19600

Correct Answer: Rs. 19800

Solution: 

Banker\'s Discount = (20000 * 10 * 3/12) / 100 = Rs. 500; Effective Amount = 20000 - 500 = Rs. 19500

What is the effective amount received if a bill of Rs. 20000 is discounted at 10

Practice Questions

Q1
What is the effective amount received if a bill of Rs. 20000 is discounted at 10% for 3 months?
  1. Rs. 19500
  2. Rs. 19800
  3. Rs. 19750
  4. Rs. 19600

Questions & Step-by-Step Solutions

What is the effective amount received if a bill of Rs. 20000 is discounted at 10% for 3 months?
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