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A bill has been drawn on August 10, 2016 payable after 3 months. The maturity date of the bill will be
- a)Nov. 13, 2016
- b)Nov. 10, 2016
- c)Oct. 31, 2016
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
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A bill has been drawn on August 10, 2016 payable after 3 months. The m...
Maturity Date Calculation
To calculate the maturity date of a bill, we need to consider the due date and the number of days the bill is payable after that date.
Given:
- The bill was drawn on August 10, 2016.
- The bill is payable after 3 months.
Step 1: Determine the due date
The due date is the date on which the bill was drawn. In this case, the due date is August 10, 2016.
Step 2: Calculate the maturity date
To calculate the maturity date, we need to add the number of days the bill is payable after the due date to the due date.
In this case, the bill is payable after 3 months. Since each month can have a different number of days, we need to consider the specific months involved.
- August: 10 days remaining in the month.
- September: 30 days.
- October: 31 days.
- November: 13 days (up to the maturity date).
Adding up the days, we have a total of 10 + 30 + 31 + 13 = 84 days.
Step 3: Determine the maturity date
To determine the maturity date, we add the total number of days (84 days) to the due date (August 10, 2016).
August 10 + 84 days = November 13, 2016.
Therefore, the correct answer is option 'A': Nov. 13, 2016.
To calculate the maturity date of a bill, we need to consider the due date and the number of days the bill is payable after that date.
Given:
- The bill was drawn on August 10, 2016.
- The bill is payable after 3 months.
Step 1: Determine the due date
The due date is the date on which the bill was drawn. In this case, the due date is August 10, 2016.
Step 2: Calculate the maturity date
To calculate the maturity date, we need to add the number of days the bill is payable after the due date to the due date.
In this case, the bill is payable after 3 months. Since each month can have a different number of days, we need to consider the specific months involved.
- August: 10 days remaining in the month.
- September: 30 days.
- October: 31 days.
- November: 13 days (up to the maturity date).
Adding up the days, we have a total of 10 + 30 + 31 + 13 = 84 days.
Step 3: Determine the maturity date
To determine the maturity date, we add the total number of days (84 days) to the due date (August 10, 2016).
August 10 + 84 days = November 13, 2016.
Therefore, the correct answer is option 'A': Nov. 13, 2016.
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Community Answer
A bill has been drawn on August 10, 2016 payable after 3 months. The m...
I think maturity date after 3 months will be 13 nov 2016 adding 3 grace days to 10 nov 2016 ...
not sure but if anyone know then comment here
not sure but if anyone know then comment here
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A bill has been drawn on August 10, 2016 payable after 3 months. The maturity date of the bill will bea)Nov. 13, 2016b)Nov. 10, 2016c)Oct. 31, 2016d)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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