Question

A bill of Rs. 40,000 was discounted by P with his bank for Rs.39,000. At maturity, the bill returned dishonoured, noting charges amounted to Rs.500. How much amount will the bank deduct from P’s bank balance at the time of such dishonor? (a) Rs.40,000 (b) Rs. 39,500 (c) Rs. 39,000 (d) Rs.40,500

Answer 1

b)Rs39500 will be the answer