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What is the present value of a bill of Rs. 10000 due in 1 year with a bankers' d

Practice Questions

Q1
What is the present value of a bill of Rs. 10000 due in 1 year with a bankers' discount of Rs. 800?
  1. Rs. 9200
  2. Rs. 10000
  3. Rs. 10800
  4. Rs. 8800

Questions & Step-by-Step Solutions

What is the present value of a bill of Rs. 10000 due in 1 year with a bankers' discount of Rs. 800?
Correct Answer: Rs. 9200
  • Step 1: Identify the face value of the bill, which is Rs. 10000.
  • Step 2: Identify the bankers' discount (BD), which is Rs. 800.
  • Step 3: Use the formula for present value: Present Value = Face Value - Bankers' Discount.
  • Step 4: Substitute the values into the formula: Present Value = 10000 - 800.
  • Step 5: Calculate the present value: 10000 - 800 = Rs. 9200.
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