Nisha sold good to Asha worth ` 34,000, Asha paid ` 10,000 immediately and accepted the bill for the balance ` 24,000 at 2 months. Nisha discounted the bill with Bank of Maharashtra after one month at 15% p. a. The bill was dishonoured on the due date and Asha requested Nisha to accept ` 4,000 and interest in cash on remaining amount at 11% p.a. for 3 months. Nisha agreed and for the balance Asha accepted a new bill at 3 months. But Asha became insolvent and only 40% could be recovered her estate