Q29)Sarah discounted a bill of exchange amounting to OMR 12,000 having a term of 6 months. She discounted the bill with bank immediately for a bank discount of 15%. Calculate the Bank DiscountOMR 900None of theseOMR 1,800OMR 450 Calculate the amount received by Sarah after discounting the bilNone of theseOMR 10,200OMR 11,550OMR 11,100

Bank discount = Face value of bill of exchange x discount rate x no. of months/12 = OMR 12,000 x…

Answered: Sarah discounted a bill of exchange…

Sarah discounted a bill of exchange amounting to OMR 12,000 having a term of 6 months. She discounted the bill with bank immediately for a bank discount of 15%.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Q29) Sarah discounted a bill of exchange amounting to OMR 12,000 having a term of 6 months. She discounted the bill with bank immediately for a bank discount of 15%.

Calculate the Bank Discount
OMR 900
None of these
OMR 1,800
OMR 450

Calculate the amount received by Sarah after discounting the bil
None of these
OMR 10,200
OMR 11,550
OMR 11,100

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