Explain the norms suggested by Tandon Committee for providing bank credit. How did the recommendations of Chore Committee bring modifications to then existing norms? Find the effective annual interest...

Explain the norms suggested by Tandon Committee for providing bank credit. How did the recommendations of Chore Committee bring modifications to then existing norms?

Find the effective annual interest rate on trade credit if the credit term is 3/10 net 30, and the firm does not avail of the discount facility.