Question

1. On 20 March 2018, Kamal received a 120-day promissory note with simple interest rate of 11% per annum. On 14 May 2009, he discounted the note at a discount rate of 10%
and received proceeds of RM2,592.75.Find the:
a) maturity date (18h July 2018)
b) maturity value (RM2640 42)
c) value of bank discount (RM47.67)
d) face value.(RM2547.03)​

Answer 1

A is the answer
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