On 01.01.2017, X draws a bill on Y for Rs. 15,000 for 3 months. At maturity, Y requests X to accept Rs. 5,000 in cash & for balance draw a fresh bill payable after two months along with Interest @ 12 p.a. What shall be the amount of Interest?

Rs. 200

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Rs. 300

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Rs. 280

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Rs. 340

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Solution

The correct option is A
Rs. 200

Interest
= Rs. 10,000 * 12/100 * 2/12
= Rs. 200

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On 01.01.2017, X draws a bill on Y for Rs. 15,000 for 3 months. At maturity, Y requests X to accept Rs. 5,000 in cash & for balance draw a fresh bill payable after two months along with Interest @ 12 p.a. What shall be the amount of Interest?

The correct option is A Rs. 200 Interest = Rs. 10,000 * 12/100 * 2/12 = Rs. 200

The correct option is A
Rs. 200

Interest
= Rs. 10,000 * 12/100 * 2/12
= Rs. 200