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Mr. Jaiffer accepted a bill of exchange for OMR 6,000 and the term of the...

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Accounting

Mr. Jaiffer accepted a bill of exchange for OMR 6,000 and the term of the bill being 3 months. He discounted the bill with the bank after 1 month. The bank charged 5% p.a. as bank discount.

Calculate the Bank Discount

Calculate the amount received by Mr.Jaiffer from the bank after discounting the bill.

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