Mathematics · Bills of Exchange
A bill of exchange for ₹20,000 drawn by A on B is accepted for three months on 1st March. A discounts it immediately at 12% p.a. from the bank and the bill is duly honoured on the due date. What is the total amount received by A from the bank at the time of discounting?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹19,800
- 2₹19,400✓
- 3₹19,600
- 4₹19,000
Correct answer
₹19,400
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