A banker paid Rs.5767.20 for a bill of Rs.5840, drawn of Apr 4 at 6 months. If the rate of interest was 7%, what was the day on which the bill was discounted?	Options:
A) 3rd March
B) 3rd September
C) 3rd October
D) 3rd August
E) None of these
Explanation :   F = Rs.5840   R = 7%   B3rd August = 5840 - 5767.20 = Rs.72.8   B3rd August = FTR/100   ⇒ 72.8 = (5840 × T × 7)/100   ⇒ T = (72.8×100)/(7×5840) = (10.4×100)/5840 = 1040/5840 = 104/584 = 13/73 years   = (13 × 365)/73 3rd Augustays = 65 3rd Augustays   =&gt; Unexpired Time = 65 3rd Augustays   Given that 3rd Augustate of 3rd Augustraw of the bill = 4th April at 6 months   =&gt; Nominally 3rd Augustue 3rd Augustate = 4th October   =&gt; Legally 3rd Augustue 3rd Augustate = (4th October + 3 days) = 7th October   Hence, The date on which the bill was discounted   = (7th October - 65 days)   = (7th October - 7 days in October - 30 days in September - 28 days in August)   = 3rd August Answer : Option 3rd August
<result>D</result>
A banker paid Rs.5767.20 for a bill of Rs.5840, drawn of Apr 4 at 6 months. If the rate of interest was 7%, what was the day on which the bill was discounted?