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What is discounted bill?

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What is discounted bill?
posted May 27, 2019 by Deepika Sonkar

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1 Answer

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An accepted draft or bill of exchange sold for early payment to a bank or credit institution at less than face value after the bank deducts fees and applicable interest charges. The bank or credit institution then collects full value on the draft or bill of exchange when payment comes due.

answer May 27, 2019 by Salil Agrawal