Mr. Jaiffer accepted a bill of exchange for OMR 6,000 and the term of the...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Mr. Jaiffer accepted a bill of exchange for OMR 6,000 and the term of the bill being 3 months. He discounted the bill with the bank after 1 month. The bank charged 5% p.a. as bank discount.
Calculate the Bank Discount
Calculate the amount received by Mr.Jaiffer from the bank after discounting the bill.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
