 Hello and how are you all doing today? My name is Priyanka and let us discuss this question. It says a bill for Rs. 20,000 drawn on March 18, 1999 at 7 months after date was discounted on May 28, 1999 at 6% per annum. Find the banker's discount and the proceeds. So let us discuss this question. The face value of the bill is given to us as Rs. 20,000. Right? The date of drawing the bill is given to us as March 18, 1999 and the date of discounting is given to us as May 28, 1999. The rate of interest is 6% per annum. Right? So let us find out the period of discount first. It will be 7 months, sorry the due date was 7 months after March 18 and it got discounted on May 28. So for the month of May there are two days which are remaining. Then for June the whole 30 days, then 31 days of July, 31 days of August plus 30 days of September plus 21 days of October because the due date is 7 months after March 18, 1999. So and plus three days of discount, sorry three days of grace period. So that comes out to be October 21st. Right? So here the period of discount is coming out to be 145 days which can be written as 145 upon 365 and converted into year. Right? Now we need to find out banker's discount. That will be equal to the face value of the bill into rate into the period of discount. That is 20,000 into rate that is 6% per annum into period of discount that is found out to be 145 upon 365 and on simplifying it comes out to be rupees 476.71 and the proceeds that we will be getting will be rupees 20,000 minus bankers discount that is equal to rupees 19,523.29. Right? So these two are the required answer to the given question. Right? So hope you understood the whole concept well and enjoyed the session too. Have a nice day.