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A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam gets its discounted @ 12% p.a. due 3 months hence. The discounting charges borne by Shyam is :
- a)Rs. 375
- b)Rs. 1,500
- c)Rs. 250
- d)Rs. 1,000
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam get...
This is called acceptance of the bill.
Once Ram accepts the bill, it becomes a legally binding document and can be traded as a negotiable instrument. Shyam can use the bill to obtain credit or cash from a bank or other financial institution.
The bill of Rs. 12,500 will have a due date, which is the date when Ram has to pay the amount to Shyam. This date will be mentioned on the bill and will be calculated from the date of acceptance.
If Ram fails to pay the amount on the due date, Shyam can take legal action against him to recover the amount.
In conclusion, when Shyam draws a bill of Rs. 12,500 and Ram accepts it, it becomes a legally binding document which Ram has to honor by paying the amount on the due date.
Once Ram accepts the bill, it becomes a legally binding document and can be traded as a negotiable instrument. Shyam can use the bill to obtain credit or cash from a bank or other financial institution.
The bill of Rs. 12,500 will have a due date, which is the date when Ram has to pay the amount to Shyam. This date will be mentioned on the bill and will be calculated from the date of acceptance.
If Ram fails to pay the amount on the due date, Shyam can take legal action against him to recover the amount.
In conclusion, when Shyam draws a bill of Rs. 12,500 and Ram accepts it, it becomes a legally binding document which Ram has to honor by paying the amount on the due date.
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A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam get...
Discount rate 12% =12500*12/100=1500
for 3 month = 1500*3/12= 375
for 3 month = 1500*3/12= 375
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A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam gets its discounted @ 12% p.a. due 3 months hence. The discounting charges borne by Shyam is :a)Rs. 375b)Rs. 1,500c)Rs. 250d)Rs. 1,000Correct answer is option 'A'. Can you explain this answer?
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A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam gets its discounted @ 12% p.a. due 3 months hence. The discounting charges borne by Shyam is :a)Rs. 375b)Rs. 1,500c)Rs. 250d)Rs. 1,000Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam gets its discounted @ 12% p.a. due 3 months hence. The discounting charges borne by Shyam is :a)Rs. 375b)Rs. 1,500c)Rs. 250d)Rs. 1,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam gets its discounted @ 12% p.a. due 3 months hence. The discounting charges borne by Shyam is :a)Rs. 375b)Rs. 1,500c)Rs. 250d)Rs. 1,000Correct answer is option 'A'. Can you explain this answer?.
A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam gets its discounted @ 12% p.a. due 3 months hence. The discounting charges borne by Shyam is :a)Rs. 375b)Rs. 1,500c)Rs. 250d)Rs. 1,000Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam gets its discounted @ 12% p.a. due 3 months hence. The discounting charges borne by Shyam is :a)Rs. 375b)Rs. 1,500c)Rs. 250d)Rs. 1,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A bill of Rs. 12,500 drawn by Shyam is accepted by Ram & Shyam gets its discounted @ 12% p.a. due 3 months hence. The discounting charges borne by Shyam is :a)Rs. 375b)Rs. 1,500c)Rs. 250d)Rs. 1,000Correct answer is option 'A'. Can you explain this answer?.
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