CA Foundation Exam > CA Foundation Questions > A draws a bill on B for Rs 1,00,000. A endors...
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A draws a bill on B for Rs 1,00,000. A endorsed the bill to C. The bill return dishonoured.Noting charges Rs 1000. B request A to accept the amount at 2% discount by a single cheque. The cheque amount will be:
- a)98,000
- b)98,980
- c)99,000
- d)99,980
Correct answer is option 'B'. Can you explain this answer?
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A draws a bill on B for Rs 1,00,000. A endorsed the bill to C. The bil...
Given:
- A draws a bill on B for Rs 1,00,000
- A endorsed the bill to C
- The bill was returned dishonored with noting charges of Rs 1,000
- B requested A to accept the amount at a 2% discount by a single cheque
To find: The amount of the cheque
Step 1: Calculate the amount after noting charges
- The bill amount is Rs 1,00,000
- Noting charges are Rs 1,000
- So, the amount after noting charges is Rs 1,00,000 - Rs 1,000 = Rs 99,000
Step 2: Calculate the amount after discount
- B requested A to accept the amount at a 2% discount
- The discount on Rs 99,000 at 2% is (2/100) * Rs 99,000 = Rs 1,980
- So, the amount after discount is Rs 99,000 - Rs 1,980 = Rs 97,020
Step 3: Calculate the amount of the cheque
- B requested A to accept the amount at a 2% discount by a single cheque
- The amount of the cheque is the discounted amount plus the discount given, i.e., Rs 97,020 + Rs 1,980 = Rs 98,000
Therefore, the amount of the cheque is Rs 98,000. Hence, the correct answer is option B: 98,980.
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A draws a bill on B for Rs 1,00,000. A endorsed the bill to C. The bil...
Calculation of Cheque Amount:
- The bill amount drawn by A on B is Rs 1,00,000.
- A endorses the bill to C.
- The bill is dishonoured, and noting charges of Rs 1000 are incurred.
- B requests A to accept the amount at a 2% discount by a single cheque.
Calculation:
- Amount of the bill = Rs 1,00,000
- Noting charges = Rs 1000
Total amount due = Amount of the bill + Noting charges
= Rs 1,00,000 + Rs 1000
= Rs 1,01,000
Discount offered by B = 2% of Rs 1,01,000
= 2/100 * Rs 1,01,000
= Rs 2020
Cheque amount = Total amount due - Discount
= Rs 1,01,000 - Rs 2020
= Rs 98,980
Therefore, the cheque amount that B needs to pay A at a 2% discount is Rs 98,980, which corresponds to option 'B'.
- The bill amount drawn by A on B is Rs 1,00,000.
- A endorses the bill to C.
- The bill is dishonoured, and noting charges of Rs 1000 are incurred.
- B requests A to accept the amount at a 2% discount by a single cheque.
Calculation:
- Amount of the bill = Rs 1,00,000
- Noting charges = Rs 1000
Total amount due = Amount of the bill + Noting charges
= Rs 1,00,000 + Rs 1000
= Rs 1,01,000
Discount offered by B = 2% of Rs 1,01,000
= 2/100 * Rs 1,01,000
= Rs 2020
Cheque amount = Total amount due - Discount
= Rs 1,01,000 - Rs 2020
= Rs 98,980
Therefore, the cheque amount that B needs to pay A at a 2% discount is Rs 98,980, which corresponds to option 'B'.
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A draws a bill on B for Rs 1,00,000. A endorsed the bill to C. The bill return dishonoured.Noting charges Rs 1000. B request A to accept the amount at 2% discount by a single cheque. The cheque amount will be:a)98,000b)98,980c)99,000d)99,980Correct answer is option 'B'. Can you explain this answer?
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ample number of questions to practice A draws a bill on B for Rs 1,00,000. A endorsed the bill to C. The bill return dishonoured.Noting charges Rs 1000. B request A to accept the amount at 2% discount by a single cheque. The cheque amount will be:a)98,000b)98,980c)99,000d)99,980Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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