Please explain commercial paper also with it's merits and limitations. (not copy of the book)

The merits and limitations of commercial paper are already given in our revision notes of Business Studies XI. Follow the given link and scroll down to the topic 'Commercial Paper'

https://www.meritnation.com/cbse/class11-commerce/revision-notes/business-studies/business-studies/sources-of-business-finance/1161_5371