The true discount on a bill due 2 years hence at 5% per annum is rs 15 find the ammount
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Discount Amount= A =15
rate of discount= i =5%
Duration= n = 2 years
Let the Bill amount be x
x × (1 - i)^n = A
x (1 -5/100)^2 = 15
x(1 - 0.05)^2 = 15
x(0.95)^2 = 15
x(0.9025) = 15
x = 15/0.9025
x = 16.62
rate of discount= i =5%
Duration= n = 2 years
Let the Bill amount be x
x × (1 - i)^n = A
x (1 -5/100)^2 = 15
x(1 - 0.05)^2 = 15
x(0.95)^2 = 15
x(0.9025) = 15
x = 15/0.9025
x = 16.62
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