On 1.1.05 X draws a bill on Y for ` 20000. At maturity, Y to renew the bill for 2 months @ 12% pa interest. Amount of interest will be

On 1.1.05 X draws a bill on Y for ` 20000. At maturity, Y to renew the

1.	On 1.1.05 X draws a bill on Y for ` 20000. At maturity, Y to renew the bill for 2 months @ 12% pa interest. Amount of interest will be
A.	` 400
B.	` 300
C.	` 360
D.	` 380
Answer» B. ` 300

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On 1.1.05 X draws a bill on Y for ` 20000. At maturity, Y to renew the bill for 2 months @ 12% pa interest. Amount of interest will be

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