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A bill is drawn on 29th Jan’ 06 for one month after date. The date of acceptance is 2nd Feb’06. The bill is drawn on one month after date basis. The due date of the bill will be:
- a)28th Feb
- b)1st Mar
- c)2nd Mar
- d)3rd Mar
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
A bill is drawn on 29th Jan 06 for one month after date. The date of a...
**Explanation:**
To determine the due date of the bill, we need to consider the terms mentioned in the question:
1. The bill is drawn on 29th Jan 06.
2. It is drawn for one month after the date.
3. The date of acceptance is 2nd Feb 06.
Based on these terms, we can calculate the due date of the bill.
**Calculations:**
1. The bill is drawn for one month after the date, which means that the due date will be one month from the date of drawing the bill.
2. The bill is drawn on 29th Jan 06, so the due date will be 29th Feb 06.
3. However, the date of acceptance is 2nd Feb 06, which means that the due date will be postponed until the acceptance date.
4. Since the bill is drawn on a one-month after date basis, the due date will be one month from the acceptance date.
5. Adding one month to the acceptance date (2nd Feb 06) gives us 2nd Mar 06.
Therefore, the correct answer is option 'D' - 3rd Mar.
To determine the due date of the bill, we need to consider the terms mentioned in the question:
1. The bill is drawn on 29th Jan 06.
2. It is drawn for one month after the date.
3. The date of acceptance is 2nd Feb 06.
Based on these terms, we can calculate the due date of the bill.
**Calculations:**
1. The bill is drawn for one month after the date, which means that the due date will be one month from the date of drawing the bill.
2. The bill is drawn on 29th Jan 06, so the due date will be 29th Feb 06.
3. However, the date of acceptance is 2nd Feb 06, which means that the due date will be postponed until the acceptance date.
4. Since the bill is drawn on a one-month after date basis, the due date will be one month from the acceptance date.
5. Adding one month to the acceptance date (2nd Feb 06) gives us 2nd Mar 06.
Therefore, the correct answer is option 'D' - 3rd Mar.
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Community Answer
A bill is drawn on 29th Jan 06 for one month after date. The date of a...
From 29 Jan, 2006
For one month :-
So one month from 29th Jan, 2006 will be 1st March, 2006
So,
1st March, 2006 + 2 days of grace = 3rd March, 2006
After calculating the due date, two more extra days are given to the payee which are called as ' days of grace '
Hence the correct option id (d)
For one month :-
So one month from 29th Jan, 2006 will be 1st March, 2006
So,
1st March, 2006 + 2 days of grace = 3rd March, 2006
After calculating the due date, two more extra days are given to the payee which are called as ' days of grace '
Hence the correct option id (d)
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A bill is drawn on 29th Jan 06 for one month after date. The date of acceptance is 2nd Feb06. The bill is drawn on one month after date basis. The due date of the bill will be:a)28th Febb)1st Marc)2nd Mard)3rd MarCorrect answer is option 'D'. Can you explain this answer?
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