A company writes cheques for Rs 20,000 per day on an average. The cheque takes 5 days to be cleared. On the other hand, the company receives Rs 22,000 per day on an average. Float in this case is 3...

A company writes cheques for Rs 20,000 per day on an average. The cheque takes 5 days to be cleared. On the other hand, the company receives Rs 22,000 per day on an average. Float in this case is 3 days. Calculate negative and positive floats. What would be the annual saving if the negative float reduces to 1 day, with interest rate being 6%?