Suman drew a bill on Sonu for Rs 4500 for mutual accommodation in the ratio 2:1. Sonu accepted the bill and returned to Suman. Suman discounted the bill for Rs 4230 and remitted 1/3rd proceeds to Sonu. Before the due date, not having funds to meet the bill, Sonu drew a bill on Suman for Rs 6,300 on the same terms as to mutual accommodation. The second bill was discounted for Rs 6120. The first bill was honored on the due date and a net amount of Rs 1080 was remitted to Suman by Sonu. The proportionate discount charge on both the bills is to be borne by Suman is:a)180b)150c)300d)120Correct answer is option 'C'. Can you explain this answer?

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Suman drew a bill on Sonu for Rs 4500 for mutual accommodation in the ratio 2:1. Sonu accepted the bill and returned to Suman. Suman discounted the bill for Rs 4230 and remitted 1/3^rd proceeds to Sonu. Before the due date, not having funds to meet the bill, Sonu drew a bill on Suman for Rs 6,300 on the same terms as to mutual accommodation. The second bill was discounted for Rs 6120. The first bill was honored on the due date and a net amount of Rs 1080 was remitted to Suman by Sonu. The proportionate discount charge on both the bills is to be borne by Suman is:

a)
180
b)
150
c)
300
d)
120

Correct answer is option 'C'. Can you explain this answer?

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Suman drew a bill on Sonu for Rs 4500 for mutual accommodation in the ...

Calculation of the Proportionate Discount Charge on both Bills:

Given, Suman drew a bill on Sonu for Rs 4500 for mutual accommodation in the ratio 2:1. Sonu accepted the bill and returned to Suman. Suman discounted the bill for Rs 4230 and remitted 1/3rd proceeds to Sonu.

Let's calculate the amount that Suman remitted to Sonu:

1/3rd of the discounted amount = 1/3 x 4230 = 1410

Therefore, Suman remitted Rs 1410 to Sonu.

Now, before the due date, not having funds to meet the bill, Sonu drew a bill on Suman for Rs 6,300 on the same terms as to mutual accommodation. The second bill was discounted for Rs 6120.

Let's calculate the amount that Sonu remitted to Suman:

Discounted amount = Rs 6120

Therefore, Sonu remitted Rs 6120 to Suman.

The first bill was honored on the due date and a net amount of Rs 1080 was remitted to Suman by Sonu.

Now, let's calculate the total amount that Suman received from Sonu:

Total amount received = Rs 1410 + Rs 6120 + Rs 1080 = Rs 8610

Let's calculate the total discount charged on both bills:

Discount charged on the first bill = Rs 4500 - Rs 4230 = Rs 270

Discount charged on the second bill = Rs 6300 - Rs 6120 = Rs 180

Total discount charged = Rs 270 + Rs 180 = Rs 450

Now, let's calculate the proportionate discount charge that Suman needs to bear:

Ratio of mutual accommodation = 2:1

Therefore, Suman's share = 2/3 and Sonu's share = 1/3

Proportionate discount charge that Suman needs to bear = 2/3 x Rs 450 = Rs 300

Hence, option (c) Rs 300 is the correct answer.

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Suman drew a bill on Sonu for Rs 4500 for mutual accommodation in the ratio 2:1. Sonu accepted the bill and returned to Suman. Suman discounted the bill for Rs 4230 and remitted 1/3rd proceeds to Sonu. Before the due date, not having funds to meet the bill, Sonu drew a bill on Suman for Rs 6,300 on the same terms as to mutual accommodation. The second bill was discounted for Rs 6120. The first bill was honored on the due date and a net amount of Rs 1080 was remitted to Suman by Sonu. The proportionate discount charge on both the bills is to be borne by Suman is:a)180b)150c)300d)120Correct answer is option 'C'. Can you explain this answer?

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Suman drew a bill on Sonu for Rs 4500 for mutual accommodation in the ratio 2:1. Sonu accepted the bill and returned to Suman. Suman discounted the bill for Rs 4230 and remitted 1/3rd proceeds to Sonu. Before the due date, not having funds to meet the bill, Sonu drew a bill on Suman for Rs 6,300 on the same terms as to mutual accommodation. The second bill was discounted for Rs 6120. The first bill was honored on the due date and a net amount of Rs 1080 was remitted to Suman by Sonu. The proportionate discount charge on both the bills is to be borne by Suman is:a)180b)150c)300d)120Correct answer is option 'C'. 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 Suman drew a bill on Sonu for Rs 4500 for mutual accommodation in the ratio 2:1. Sonu accepted the bill and returned to Suman. Suman discounted the bill for Rs 4230 and remitted 1/3rd proceeds to Sonu. Before the due date, not having funds to meet the bill, Sonu drew a bill on Suman for Rs 6,300 on the same terms as to mutual accommodation. The second bill was discounted for Rs 6120. The first bill was honored on the due date and a net amount of Rs 1080 was remitted to Suman by Sonu. The proportionate discount charge on both the bills is to be borne by Suman is:a)180b)150c)300d)120Correct answer is option 'C'. 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 Suman drew a bill on Sonu for Rs 4500 for mutual accommodation in the ratio 2:1. Sonu accepted the bill and returned to Suman. Suman discounted the bill for Rs 4230 and remitted 1/3rd proceeds to Sonu. Before the due date, not having funds to meet the bill, Sonu drew a bill on Suman for Rs 6,300 on the same terms as to mutual accommodation. The second bill was discounted for Rs 6120. The first bill was honored on the due date and a net amount of Rs 1080 was remitted to Suman by Sonu. The proportionate discount charge on both the bills is to be borne by Suman is:a)180b)150c)300d)120Correct answer is option 'C'. Can you explain this answer?.

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