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A firm cancels debentures of Rs 20,000 face value bought at 92 percent. How much cash does it pay?
ARs 20,000
BRs 1,600
CRs 18,400
DRs 21,600
Answer & Solution
Correct answer: C. Rs 18,400
92 percent of Rs 20,000 is Rs 18,400 paid to the sellers.
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