On 15th April 2019, ABC Bank buys 91-days treasury bill, maturing on 12th June 2019. The rate quoted by seller is ₹99.30 per ₹100 face value. Calculate the yield percentage of the treasury bill.

The days to maturity of T bill are: April: 30 - 15 = 15 days (assuming 15th April is included, or 16 days if 15th is excluded and 16th is the first day) May: 31 days June: 12 days Total days = 15 + 31 + 12 = 58 days (The solution provided in the paper uses 16+31+11=58, which implies 15th April is excluded and 12th June is excluded. Let's follow the provided solution's day count for consistency.) Days to maturity of T bill = 16 + 31 + 11 = 58 days Yield to Maturity (YTM) = [(Face Value - Purchase Price) / Purchase Price] * (365 / Days to Maturity) * 100 YTM = [(100 - 99.30) / 99.30] * (365 / 58) * 100 YTM = (0.70 / 99.30) * (365 / 58) * 100 YTM = 0.007049345 * 6.2931034 * 100 YTM = 0.04436 * 100 = 4.436%