A company issued debentures of Rs. 60,000 at discount of Rs. 3,000 on 1<sup>st</sup> April 1996. they are repayable in 3 equal instalments each on 31<sup>st</sup> March, every year. The financial year of the company ends on 31<sup>st</sup> December every year. How much discount will be written off in the second year:

Correct Answer: Rs. 1,125