Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 28, 2024

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

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.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Fundamentals Essential Concepts And Examples

Authors: Steven M. Bragg

3rd Edition

0980069998, 978-0980069990

More Books

Students also viewed these Accounting questions

Question

★★★★★

The bus company in Draper operates a "Weekend Rider" bus service from the Tech campus to Washington, DC. The bus seats 55 passengers and selects the shortest route to DC that will also result in at...

Answered: 1 week ago

Question

★★★★★

Now, a real $100 offer: Find a 3 3 magic square with nine distinct square numbers. If you find such a magic square, write to me and I will include it in the next edition and pay you a $100 reward....

Answered: 1 week ago

Question

★★★★★

Describe interventions health psychologists use to treat patients experiencing stress.

Answered: 1 week ago

Question

★★★★★

Think of various product categories. In each segmentation scheme, to which segment do you feel you belong? How would marketing be more or less effective for you depending on the segment? How would...

Answered: 1 week ago

Question

★★★★★

Which of the following situations would require a client/service provider relationship based on reputation: A. Lorraine is getting married for the first time and needs to hire a wedding photographer....

Answered: 1 week ago

Question

★★★★★

Coast to Coast Surfboards Inc. manufactures and sells two styles of surfboards, Atlantic Wave and Pacific Pounder. These surfboards are sold in two regions, East Coast and West Coast. Information...

Answered: 1 week ago

Question

★★★★★

Olney LLC only purchased one asset this year. Olney LLC placed in service on July 19, 2023, machinery and equipment (seven-year property) with a basis of $1,330,000. Assume that Olney has sufficient...

Answered: 1 week ago

Question

★★★★★

A marketing company needs to decide how much time to allocate between radio and television advertising during the next month. The manager has determined that at least 80% of the time should be...

Answered: 1 week ago

Question

★★★★★

Melany is a behavior technician that is teaching their client how to identify various household items. If the supervising Board Certified Behavior Analyst (BCBA) wants to measure that the program is...

Answered: 1 week ago

Question

★★★★★

Economic research has identified a trend exhibited by one in six Britons of hiding cash in their homes instead of investing it. This is termed the "Biscuit Tin Economy." It is estimated that $3.5...

Answered: 1 week ago

Question

★★★★★

How does Purchasing bring value to a organization? When thinking about the sort ( reject nothing to need), set in order ( tidy up), shine ( keep workplace up ) , standardize ( make neatness a rule),...

Answered: 1 week ago

Question

★★★★★

3.100 It is known that 20% of all farms in a state exceed 160 acres and that 60% of all farms in that state are owned by persons over 50 years old. Of all farms in the state exceeding 160 acres, 55%...

Answered: 1 week ago

Question

★★★★★

3.99 In a campus restaurant it was found that 35% of all customers order vegetarian meals and that 50% of all customers are students. Further, 25% of all customers who are students order vegetarian...

Answered: 1 week ago

Question

★★★★★

3.98 Staff, Inc., a management consulting company, is surveying the personnel of Acme Ltd. It determined that 35% of the analysts have an MBA and that 40% of all analysts are over age 35. Further, of...

Answered: 1 week ago

Previous Question Next Question