Home » MCQs » Commerce MCQs » Bills of Exchange MCQs

Amount of Bill Discounted + Rate × Unexpired Period =?

13. Amount of Bill Discounted + Rate × Unexpired Period =?

1. Discounting Charges
2. Renewal Charges
3. Bill Payment
4. None of the above.

Answer: A) Discounting Charges

Explanation:

Discounting charges allude to the expenses or amt. deducted by the bank as their bonus from the amt. of the bill receivable limited from the bank. It is determined by the increasing pace of markdown and the unexpired period implies the period left from the date of development.