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Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.
- a)1200
- b)1800
- c)1100
- d)800
Correct answer is option 'A'. Can you explain this answer?
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Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam...
Given information:
- Ram draws a bill of Rs. 60,000 on Aslam for 2 months on 1.4.01.
- Aslam accepts the bill and sends it back to Ram who discounts it for Rs. 58,800.
- Ram remits Rs. 19,600 to Aslam immediately.
- On due date, Ram accepts a bill of Rs. 84,000 for 2 months from Aslam.
- Aslam discounts the bill for Rs. 82,200 and sends Rs. 14,800 to Ram.
To find: How much discount will be borne by Ram at the time of Rs. 14,800 remittances.
Solution:
1. Calculation of Interest on the first bill:
- Face value of the bill = Rs. 60,000
- Time period = 2 months
- Rate of interest = ?
- Discounted value of the bill = Rs. 58,800
- We know, Discount = Face Value - Discounted Value
- Therefore, Discount = Rs. 60,000 - Rs. 58,800 = Rs. 1,200
- We also know, Interest = (Discount * Rate * Time)/100
- Substituting the given values, we get
- Rs. 1,200 = (60,000 * Rate * 2)/100
- Solving the equation, we get Rate = 1%
2. Calculation of Amount on the first bill:
- Amount = Discounted Value + Interest
- Interest = (Discount * Rate * Time)/100
- Substituting the given values, we get
- Interest = (1,200 * 1 * 2)/100 = Rs. 24
- Amount = Rs. 58,800 + Rs. 24 = Rs. 58,824
3. Calculation of Amount on the second bill:
- Face value of the bill = Rs. 84,000
- Time period = 2 months
- Rate of interest = 1%
- We know, Interest = (Face Value * Rate * Time)/100
- Substituting the given values, we get
- Interest = (84,000 * 1 * 2)/100 = Rs. 1,680
- Amount = Face Value - Interest
- Therefore, Amount = Rs. 84,000 - Rs. 1,680 = Rs. 82,320
4. Calculation of Discount on the second bill:
- Discount = Face Value - Amount
- Therefore, Discount = Rs. 84,000 - Rs. 82,320 = Rs. 1,680
5. Calculation of Discount borne by Ram:
- Aslam sends Rs. 14,800 to Ram out of the discounted amount.
- Therefore, Discount borne by Ram = Rs. 1,680 - Rs. 14,800 = -Rs. 13,120
- Negative value indicates that Aslam has borne the discount.
Therefore, the correct answer is option 'A' i.e. Rs. 1,200.
- Ram draws a bill of Rs. 60,000 on Aslam for 2 months on 1.4.01.
- Aslam accepts the bill and sends it back to Ram who discounts it for Rs. 58,800.
- Ram remits Rs. 19,600 to Aslam immediately.
- On due date, Ram accepts a bill of Rs. 84,000 for 2 months from Aslam.
- Aslam discounts the bill for Rs. 82,200 and sends Rs. 14,800 to Ram.
To find: How much discount will be borne by Ram at the time of Rs. 14,800 remittances.
Solution:
1. Calculation of Interest on the first bill:
- Face value of the bill = Rs. 60,000
- Time period = 2 months
- Rate of interest = ?
- Discounted value of the bill = Rs. 58,800
- We know, Discount = Face Value - Discounted Value
- Therefore, Discount = Rs. 60,000 - Rs. 58,800 = Rs. 1,200
- We also know, Interest = (Discount * Rate * Time)/100
- Substituting the given values, we get
- Rs. 1,200 = (60,000 * Rate * 2)/100
- Solving the equation, we get Rate = 1%
2. Calculation of Amount on the first bill:
- Amount = Discounted Value + Interest
- Interest = (Discount * Rate * Time)/100
- Substituting the given values, we get
- Interest = (1,200 * 1 * 2)/100 = Rs. 24
- Amount = Rs. 58,800 + Rs. 24 = Rs. 58,824
3. Calculation of Amount on the second bill:
- Face value of the bill = Rs. 84,000
- Time period = 2 months
- Rate of interest = 1%
- We know, Interest = (Face Value * Rate * Time)/100
- Substituting the given values, we get
- Interest = (84,000 * 1 * 2)/100 = Rs. 1,680
- Amount = Face Value - Interest
- Therefore, Amount = Rs. 84,000 - Rs. 1,680 = Rs. 82,320
4. Calculation of Discount on the second bill:
- Discount = Face Value - Amount
- Therefore, Discount = Rs. 84,000 - Rs. 82,320 = Rs. 1,680
5. Calculation of Discount borne by Ram:
- Aslam sends Rs. 14,800 to Ram out of the discounted amount.
- Therefore, Discount borne by Ram = Rs. 1,680 - Rs. 14,800 = -Rs. 13,120
- Negative value indicates that Aslam has borne the discount.
Therefore, the correct answer is option 'A' i.e. Rs. 1,200.
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Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer?
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Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct 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 Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct 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 Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer?.
Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct 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 Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct 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 Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer?.
Solutions for Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Here you can find the meaning of Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Ram draws on Aslam a bill for Rs. 60,000 on 1.4.01 for 2 months. Aslam accepts the bill and sends it to Ram who gets it discounted for Rs. 58,800. Ram immediately remits Rs. 19,600 to Aslam. On due date, Ram being unable to remit the amount due accepts a bill for Rs. 84,000 for 2 months which is discounted by Aslam for Rs. 82,200. Aslam sends Rs. 14,800 to Ram out of the same. How much discount will be borne by Ram at the time of 14,800 remittances.a)1200b)1800c)1100d)800Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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