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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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? 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 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? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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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