Answer:
RS 3127.166
RS 107.834
Step-by-step explanation:
6 month bill :
Drawn date = Feb, 3
Discounted date = March 3,
Difference = 1 month
6 month - 1 month = 5 months = 5 * 30 = 150 days
Value of the bill :
P(1 - rate * time)
3235(1 - 0.08 * 150/360)
3235(1 - 0.08 * 0.4166666)
3235(1 - 0.0333333)
3235(0.9666666)
= Rs3127.1666
Value of bill = 3127.166
Bankers gain = 3235 - 3127.166 = 107.834
I want to say the first one, but i do not know for sure.
Answer:
Step-by-step explanation:
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