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On 15.8.05 X draws a bill on Y for 3 months for Rs. 20,000. 18th Nov was a sudden holiday, maturity date of the bill will be:
- a)17th July
- b)18th July
- c)19th Nov
- d)15th Nov
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
On 15.8.05 X draws a bill on Y for 3 months for Rs. 20,000. 18thNov wa...
Explanation:
To determine the maturity date of the bill, we need to calculate the due date by adding the number of days mentioned in the bill to the date of drawing the bill.
Given:
- The bill was drawn on 15.8.05.
- The bill is for 3 months.
- 18th Nov was a sudden holiday.
Step 1: Calculate the due date by adding 3 months to the date of drawing the bill.
- The bill was drawn on 15.8.05.
- Adding 3 months to this date, we get 15.11.05.
So, the due date of the bill is 15.11.05.
Step 2: Consider the sudden holiday on 18th Nov.
- The due date of the bill is 15.11.05.
- But 18th Nov was a sudden holiday.
Step 3: Adjust the due date to the next working day.
- Since 18th Nov was a holiday, the next working day after 15.11.05 would be 19th Nov.
Therefore, the maturity date of the bill is 19th Nov.
To determine the maturity date of the bill, we need to calculate the due date by adding the number of days mentioned in the bill to the date of drawing the bill.
Given:
- The bill was drawn on 15.8.05.
- The bill is for 3 months.
- 18th Nov was a sudden holiday.
Step 1: Calculate the due date by adding 3 months to the date of drawing the bill.
- The bill was drawn on 15.8.05.
- Adding 3 months to this date, we get 15.11.05.
So, the due date of the bill is 15.11.05.
Step 2: Consider the sudden holiday on 18th Nov.
- The due date of the bill is 15.11.05.
- But 18th Nov was a sudden holiday.
Step 3: Adjust the due date to the next working day.
- Since 18th Nov was a holiday, the next working day after 15.11.05 would be 19th Nov.
Therefore, the maturity date of the bill is 19th Nov.
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On 15.8.05 X draws a bill on Y for 3 months for Rs. 20,000. 18thNov wa...
In case of sudden holidays legal due date is the day after holiday
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On 15.8.05 X draws a bill on Y for 3 months for Rs. 20,000. 18thNov was a sudden holiday, maturity date of the bill will be:a)17thJulyb)18thJulyc)19thNovd)15thNovCorrect answer is option 'C'. Can you explain this answer?
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