Question

Mike took a loan of rs 20000 from bank on 4 February 2009 at the rate of 8%p.a.and paid back the same on 6th July 2009 find the total amount paid by Mike
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Answer 1

Step-by-step explanation:

Leena sold goods to Meena on 1st March , 2009 for ₹ 68,000 and drew two Bills of Exchange of the equal amount upon Meena payable after three months. Leena immediately discounted the first bill with her bank at 12% p.a. the bill was dishonoured by Meena and Bank paid ₹ 55 as noting charges. <br> The second bill was retired on 4th May , 2009 under a rebate of 6% p.a. with mutual agreement. Journalise the above in the books of Leena and meena.