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Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?
- a)20
- b)25
- c)24
- d)28
Correct answer is option 'C'. Can you explain this answer?
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Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately acc...
Calculation of Interest:
Gouri sold goods to Gupta on 1.6.06 for Rs 1600 and Gupta accepted a three months bill. On the due date, Gupta requested to renew the bill for a fresh period of two months. Gouri agreed, provided interest at 9% was paid immediately in cash. We need to calculate the amount of interest in the books of Gouri.
Step 1: Calculate the original amount:
The original amount of the bill is Rs 1600.
Step 2: Calculate the interest for the first three months:
Interest for three months at 9% will be calculated using the formula:
Interest = (Principal * Rate * Time) / 100
Interest = (1600 * 9 * 3) / 100
= 432
Step 3: Calculate the interest for the additional two months:
Interest for two months at 9% will be calculated using the formula:
Interest = (Principal * Rate * Time) / 100
Since the bill is renewed for a fresh period of two months, the principal amount will be the original amount plus the interest for the first three months.
Principal = 1600 + 432
= 2032
Interest = (2032 * 9 * 2) / 100
= 365.76
≈ 366 (rounded off to the nearest rupee)
Step 4: Calculate the total interest:
The total interest will be the sum of the interest for the first three months and the interest for the additional two months.
Total Interest = 432 + 366
= 798
Conclusion:
The amount of interest in the books of Gouri will be Rs 798. However, none of the given options match the calculated amount. Therefore, the correct answer is not available in the given options.
Gouri sold goods to Gupta on 1.6.06 for Rs 1600 and Gupta accepted a three months bill. On the due date, Gupta requested to renew the bill for a fresh period of two months. Gouri agreed, provided interest at 9% was paid immediately in cash. We need to calculate the amount of interest in the books of Gouri.
Step 1: Calculate the original amount:
The original amount of the bill is Rs 1600.
Step 2: Calculate the interest for the first three months:
Interest for three months at 9% will be calculated using the formula:
Interest = (Principal * Rate * Time) / 100
Interest = (1600 * 9 * 3) / 100
= 432
Step 3: Calculate the interest for the additional two months:
Interest for two months at 9% will be calculated using the formula:
Interest = (Principal * Rate * Time) / 100
Since the bill is renewed for a fresh period of two months, the principal amount will be the original amount plus the interest for the first three months.
Principal = 1600 + 432
= 2032
Interest = (2032 * 9 * 2) / 100
= 365.76
≈ 366 (rounded off to the nearest rupee)
Step 4: Calculate the total interest:
The total interest will be the sum of the interest for the first three months and the interest for the additional two months.
Total Interest = 432 + 366
= 798
Conclusion:
The amount of interest in the books of Gouri will be Rs 798. However, none of the given options match the calculated amount. Therefore, the correct answer is not available in the given options.
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Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?a)20b)25c)24d)28Correct answer is option 'C'. Can you explain this answer?
Question Description
Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?a)20b)25c)24d)28Correct answer is option 'C'. 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 Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?a)20b)25c)24d)28Correct answer is option 'C'. 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 Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?a)20b)25c)24d)28Correct answer is option 'C'. Can you explain this answer?.
Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?a)20b)25c)24d)28Correct answer is option 'C'. 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 Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?a)20b)25c)24d)28Correct answer is option 'C'. 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 Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?a)20b)25c)24d)28Correct answer is option 'C'. Can you explain this answer?.
Solutions for Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?a)20b)25c)24d)28Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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