Mathematics · Interest Calculations
On January 1, 2025, A draws a bill on B for 2,00,000 units for 4 months. B accepts it. On February 1, A discounts the bill with the bank at 12 percent per annum. On the due date, the bill is dishonored and noting charges of 500 units are paid. B then pays 50,000 units in cash and accepts a new bill for the balance plus interest at 15 percent per annum for 3 months. What is the amount of the interest for the renewal?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 15,420 units
- 26,000 units
- 35,831 units
- 45,644 units✓
Correct answer
5,644 units
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