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Question

On 1st January 2006, Vimal sold goods worth Rs. 20,000 to Renu and drew a bill on Renu for 3 months. Renu accepted the bill and returned it to Vimal who discounted the bill with the bank on 4th February 2006 @ 15% p.a. The discounting charges will be:


A

Rs 3000

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B

Rs 750

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C

Rs 500

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D

None of the above

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Solution

The correct option is C

Rs 500


Discount = Rs 2000015%212 = Rs 500.


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