What rate of interest does a man get for his money when in discounting a bill due in 10 months, he deducts 4 % of the amount of the bill?

What rate of interest does a man get for his money when in discounting

1.	What rate of interest does a man get for his money when in discounting a bill due in 10 months, he deducts 4 % of the amount of the bill?
A.	5%
B.	6%
C.	8%
D.	4%
Answer» B. 6%

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What rate of interest does a man get for his money when in discounting a bill due in 10 months, he deducts 4 % of the amount of the bill?

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