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Question
Received cheque of ₹ 90,000 from Kiran in full settlement of his account ₹ 1,00,000/-. Calculate discount rate.
Sum
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Solution
Discount = Amount Due - Amount Received
= 1,00,000 - 90,000
= 10,000
Rate of Discount = `"Discount" /"Amount Due" xx100`
= `(10,000)/(1,00,000)xx100`
=10%
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