On 01.01.2007, X draws a bill on Y for Rs. 10,000. At maturity, Y requests X to renew the bill for 2 months for interest at 12% p.a. Amount of interest will be:

Rs. 250

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Rs. 242

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Rs. 200

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Rs. 320

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Solution

The correct option is C
Rs. 200

Interest
= $R s .10, 000 * 12 % * \frac{2}{12}$
= Rs. 200.

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On 01.01.2007, X draws a bill on Y for Rs. 10,000. At maturity, Y requests X to renew the bill for 2 months for interest at 12% p.a. Amount of interest will be:

The correct option is C Rs. 200 Interest = Rs.10,000∗12%∗212 = Rs. 200.

The correct option is C
Rs. 200

Interest
= $R s .10, 000 * 12 % * \frac{2}{12}$
= Rs. 200.