Loan given to Chris Shopper = $ 800
Rate of Discount = 10 %
Number of Days for which loan was provided= 120 days
Simple interest = [tex]\frac{Principal \times Rate \times Time}{100}\\\\\frac{800 \times 10 \times 120}{360\times 100}=\frac{9600}{360}[/tex]= $25.83
Proceeds i.e interest= $ 26.67
Total Proceeds i.e Amount i.e Chris Chopper will Return=$800 - $ 26.67= $ 873.33
