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A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:
- a)Rs.24,250
- b)Rs.25,000
- c)Rs.16,167
- d)Rs.32,333
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be sha...
To find the amount of the remittance, we need to calculate the discounted value of the bill.
Given:
Principal amount (face value of the bill) = Rs. 50,000
Discount rate = 12% p.a.
Time period = 3 months
Step 1: Calculate the discount amount
The discount amount can be calculated using the formula:
Discount = (Principal × Rate × Time)/100
In this case,
Principal = Rs. 50,000
Rate = 12% p.a. = 12/100 = 0.12
Time = 3 months
Discount = (50,000 × 0.12 × 3)/12 = Rs. 1,500
Step 2: Calculate the discounted value of the bill
The discounted value of the bill can be calculated using the formula:
Discounted Value = Principal - Discount
In this case,
Principal = Rs. 50,000
Discount = Rs. 1,500
Discounted Value = 50,000 - 1,500 = Rs. 48,500
Step 3: Calculate the proceeds for each person
Since the proceeds are to be shared equally between A and B, the proceeds for each person can be calculated by dividing the discounted value by 2.
In this case,
Discounted Value = Rs. 48,500
Proceeds for each person = 48,500/2 = Rs. 24,250
Therefore, the amount of the remittance will be Rs. 24,250.
Given:
Principal amount (face value of the bill) = Rs. 50,000
Discount rate = 12% p.a.
Time period = 3 months
Step 1: Calculate the discount amount
The discount amount can be calculated using the formula:
Discount = (Principal × Rate × Time)/100
In this case,
Principal = Rs. 50,000
Rate = 12% p.a. = 12/100 = 0.12
Time = 3 months
Discount = (50,000 × 0.12 × 3)/12 = Rs. 1,500
Step 2: Calculate the discounted value of the bill
The discounted value of the bill can be calculated using the formula:
Discounted Value = Principal - Discount
In this case,
Principal = Rs. 50,000
Discount = Rs. 1,500
Discounted Value = 50,000 - 1,500 = Rs. 48,500
Step 3: Calculate the proceeds for each person
Since the proceeds are to be shared equally between A and B, the proceeds for each person can be calculated by dividing the discounted value by 2.
In this case,
Discounted Value = Rs. 48,500
Proceeds for each person = 48,500/2 = Rs. 24,250
Therefore, the amount of the remittance will be Rs. 24,250.
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A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:a)Rs.24,250b)Rs.25,000c)Rs.16,167d)Rs.32,333Correct answer is option 'A'. Can you explain this answer?
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A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:a)Rs.24,250b)Rs.25,000c)Rs.16,167d)Rs.32,333Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:a)Rs.24,250b)Rs.25,000c)Rs.16,167d)Rs.32,333Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:a)Rs.24,250b)Rs.25,000c)Rs.16,167d)Rs.32,333Correct answer is option 'A'. Can you explain this answer?.
A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:a)Rs.24,250b)Rs.25,000c)Rs.16,167d)Rs.32,333Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:a)Rs.24,250b)Rs.25,000c)Rs.16,167d)Rs.32,333Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:a)Rs.24,250b)Rs.25,000c)Rs.16,167d)Rs.32,333Correct answer is option 'A'. Can you explain this answer?.
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ample number of questions to practice A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:a)Rs.24,250b)Rs.25,000c)Rs.16,167d)Rs.32,333Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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