A bill of Rs. 6,000 due 8 months hence is discounted at 6% per annum. What are the proceeds paid by the bank?
Correct answer C. Rs. 5,760
Explanation
BD = 6,000 × 6 × (8/12)/100 = Rs. 240 is deducted by the bank, so the proceeds are 6,000 − 240 = Rs. 5,760.
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