 Hello friends and how are you all doing today? The question says a bill of exchange drawn on January 4, 2003 at 5 months after date was discounted on March 26, 2003 at 3% per annum. If the bankers' discount is Rs.1207.20, find the face value of the bill. Here we are given bankers' discount equal to Rs.1207.20. Further we are given the rate of interest charged is given to us as 3% per annum. Let us find out the date of maturity of the bill. We are given the bill was drawn on January 4, 2003. So it's due date will be equal to 5 months after Jan 4, 2003 plus 3 days of grace. That will be 5 months after Jan 4, 2003 is 4 June 2003 plus 3 days of grace. It will become 7 June 2003. So this is our due date. We are given that this bill was discounted on March 26, 2003. So therefore period of discount will be in the month of March we are left with 5 days. That is from 26 March to 31 March plus we have 30 days of April plus 31 days of May plus 7 days of June. Right? So this comes out, the sum comes out to be 73 days. Converting it into here we have 73 upon 365. Yeah that is equal to 1 by 5. Yeah. Now we are given in the question bankers' discount as rupees 1207.20. And we know that bankers' discount formula is S into R into T where S is the face value of the bill. R is the rate and T is the period of discount. So it is equal to rupees 1207.20. So further we have S into R is 3% time that is the period of discount is 1 by 5 is equal to rupees 1207.20. This implies S is equal to rupees 1207.20 into 500 that is 5 into 100 divided by 3 which further implies S as rupees 201200. Right? So this is the face value of the bill and that is rupees 201200. Right? This completes the session. Hope you understood it, but I enjoyed it too. Have a nice day ahead.