Question

A bill was drawn on Sangeeta of 30,000 for 3 month on 3rd January,2020.after one month drawer discounted the bill with his bank @8%p. a.calculate the amount of discount

Answer 1

Explanation:

3rd January,2020.after one month drawer discounted the bill with his bank @8%p. a.calculate the amount of discount

Answer 2

Given:

Amount of bill = 30,000

Duration of bill = 3 months

Discount on the bill = 8% p.a.

To find:

The amount of discount:

Solution:

The total amount of bill = 30000

The discount rate = 8%

The amount of discount per annum = 2400

The amount of discount for one month = 200

This is the amount of discount for 12 months. Sangeeta has the bill for 3 months out of which one month has already passed.

Therefore, the amount of discount for two months will be 400.