Find the bankar's discount at a bill of ₹ 12750 due four months hence when rate of interest is 6% per annum?
Correct Answer: ₹ 255
Explanation:
Given That, A = ₹ 12750, R = 6%
and T = 4 Months = 4/12 = 1/3 yr , BD = ?
According to the formula,
BD = (A x R x T)/100
= [12750 x 6 x (1/3)] / 100
= (12750 x 2) / 100
= ₹ 255
