What is a Rebate? How is it calculated?
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Rebate is the discount given for early payment of the bill i.e payment before bill maturity.
In the question given bill is paid 1month in advance, Therefore rebate shall be calculated for 1 month as follows:
Rebate = Bill value x rate x time period
Rebate = 10,000 x 6% x 1/12 = Rs 50/-.
In the question given bill is paid 1month in advance, Therefore rebate shall be calculated for 1 month as follows:
Rebate = Bill value x rate x time period
Rebate = 10,000 x 6% x 1/12 = Rs 50/-.
Harsha889:
Hi
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