On 01.01.2012, A draws a bill on B for 3 months for Rs. 10,000. On 04.03.2012, B pays the amount due to A before maturity at 12% discount. The amount of rebate will be _________.

Rs. 100

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Rs. 300

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Rs. 400

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Rs. 200

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Solution

The correct option is A
Rs. 100

The amount due has been paid 1 month in advance.
The amount of interest will be calculated as follows:
Rs. 10000 * 12/100 * 1/12 = Rs. 100

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On 01.01.2012, A draws a bill on B for 3 months for Rs. 10,000. On 04.03.2012, B pays the amount due to A before maturity at 12% discount. The amount of rebate will be _________.

The correct option is A Rs. 100 The amount due has been paid 1 month in advance. The amount of interest will be calculated as follows: Rs. 10000 * 12/100 * 1/12 = Rs. 100

The correct option is A
Rs. 100

The amount due has been paid 1 month in advance.
The amount of interest will be calculated as follows:
Rs. 10000 * 12/100 * 1/12 = Rs. 100