Question

A non-interest-bearing note having facevalue of Rs 10,000 due after 5 years wasdiscounted at 6% discount rate from bank.Find the net amount of the note that was
received after the discount.
a. Rs 9,400
b. Rs 7,000
c. Rs 8,400
d. Rs 9,000​

Answer 1

a.Rs. 9,400

First ,

The discount rate 6% on Rs.10,000

6/100×10000=Rs.600 is amount of discount

Now,

Rs.10,000-Rs.600= Rs.9400 is the discounted price

Hope it helps you

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