1- Asim has received Rs. 6,500 from discounting a bill having 3 years and 4 months to maturity. If the face value of the bill is Rs. 7,500. Calculate at which rate the bank has discounted his bill? a. 3% b. 4% c. 5% d. 6% 2- Ali has a bill of 14,500 rupees. He goes to a bank for discounting it. Bank offers him 6.5% simple discount on it. How much he will receive from that bill if the bill has 5 years to maturity? a. Rs. 9,887.5 b. Rs. 9,987.5 c. Rs. 9,777.5
1- Asim has received Rs. 6,500 from discounting a bill having 3 years and 4 months to maturity. If the face value of the bill is Rs. 7,500. Calculate at which rate the bank has discounted his bill? a. 3% b. 4% c. 5% d. 6% 2- Ali has a bill of 14,500 rupees. He goes to a bank for discounting it. Bank offers him 6.5% simple discount on it. How much he will receive from that bill if the bill has 5 years to maturity? a. Rs. 9,887.5 b. Rs. 9,987.5 c. Rs. 9,777.5
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
1- Asim has received Rs. 6,500 from discounting a bill having 3 years and 4 months to maturity.
If the face value of the bill is Rs. 7,500. Calculate at which rate the bank has discounted his
bill?
a. 3%
b. 4%
c. 5%
d. 6%
2- Ali has a bill of 14,500 rupees. He goes to a bank for discounting it. Bank offers him 6.5%
simple discount on it. How much he will receive from that bill if the bill has 5 years to maturity?
a. Rs. 9,887.5
b. Rs. 9,987.5
c. Rs. 9,777.5
d. Rs. 9,787.5
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