Concept:Discounting a bill means cashing it before its due date at less than the face value.Explanation:When the holder of a bill of exchange needs money before the due date, they sell it to a bank or financial institution.The bank pays less than the face value because it deducts interest and charges for the remaining time until maturity.This early payment at a reduced amount is known as discounting the bill.Therefore, such a bill is said to have been discounted.Answer:C. discounted