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Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:
- a)900
- b)600
- c)300
- d)650
Correct answer is option 'B'. Can you explain this answer?
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Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4...
Calculation of Discount on Bill
Given Information:
- Amount of bill drawn by Mr. A on Mr. Y: Rs 30,000
- Date of drawing bill: 1.1.06
- Maturity period of bill: 3 months
- Date on which bill was discounted by Mr. X: 4.2.06
- Rate of discount: 12%
Calculation of Maturity Date:
- Maturity date of bill = Date of drawing bill + Maturity period
- Maturity date of bill = 1.1.06 + 3 months
- Maturity date of bill = 1.4.06
Calculation of Time Period:
- Time period for which the bill was discounted = Discounting date - Maturity date
- Time period for which the bill was discounted = 4.2.06 - 1.4.06
- Time period for which the bill was discounted = 2 months
Calculation of Discount:
- Discount = Bill amount x Rate of discount x Time period / 12
- Discount = 30,000 x 12 x 2 / 12
- Discount = 6,000
Therefore, the amount of discount on the bill is Rs 6,000, which is option (b).
Given Information:
- Amount of bill drawn by Mr. A on Mr. Y: Rs 30,000
- Date of drawing bill: 1.1.06
- Maturity period of bill: 3 months
- Date on which bill was discounted by Mr. X: 4.2.06
- Rate of discount: 12%
Calculation of Maturity Date:
- Maturity date of bill = Date of drawing bill + Maturity period
- Maturity date of bill = 1.1.06 + 3 months
- Maturity date of bill = 1.4.06
Calculation of Time Period:
- Time period for which the bill was discounted = Discounting date - Maturity date
- Time period for which the bill was discounted = 4.2.06 - 1.4.06
- Time period for which the bill was discounted = 2 months
Calculation of Discount:
- Discount = Bill amount x Rate of discount x Time period / 12
- Discount = 30,000 x 12 x 2 / 12
- Discount = 6,000
Therefore, the amount of discount on the bill is Rs 6,000, which is option (b).
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Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4...
Mr. A draw bill for 3 month of mr. Y but after one month bill was paid so we calculated this with 2 month and discount 12%
30000*12%*2÷12=600
:)
30000*12%*2÷12=600
:)
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Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. Can you explain this answer?
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Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. 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 Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. 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 Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. Can you explain this answer?.
Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. 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 Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. 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 Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. Can you explain this answer?.
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Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Mr. A draws a bill on Mr. Y for Rs 30,000 on 1.1.06 for 3 months. On 4.2.06. X got the bill discounted at 12% rate. The amount of discount will be:a)900b)600c)300d)650Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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