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On first January 2019 ram pro and Sam acceptable at three months for Rs. 4000 on for January 2019 ram discounting the bill at the rate 15% per annum and remitted 11 1 1/2 to 2 sisters I am on 1 to 2019 same drawer and ram acceptable for four months for Rs..03?
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On first January 2019 ram pro and Sam acceptable at three months for R...
Question: On first January 2019, Ram and Sam accepted a bill of Rs. 4000 for three months. On 1st January 2019, Ram discounted the bill at the rate of 15% per annum and remitted 11 1/2 to 2 sisters. On the same day, Sam accepted a bill for four months for Rs. 5000. Explain in detail.
Solution:
Therefore, the maturity value of Ram's bill is Rs. 3994.38, and the maturity
Solution:
Part 1: Calculation for Ram and Sam's Bill
- Ram and Sam accepted a bill of Rs. 4000 for three months on 1st January 2019.
- As per the question, Ram discounted the bill at the rate of 15% per annum.
- Discount = (4000 * 15/100 * 3/12) = Rs. 150
- Amount remitted to 2 sisters = 4000 - 150 = Rs. 3850
- Sam accepted a bill for 4 months for Rs. 5000 on 1st January 2019.
Part 2: Calculation for Maturity Value of Ram's Bill
- Maturity value = Amount remitted + Interest
- Interest = (Amount remitted * Rate * Time)/100
- Time = 3 months
- Rate = 15% per annum
- Interest = (3850 * 15/100 * 3/12) = Rs. 144.38
- Maturity value = 3850 + 144.38 = Rs. 3994.38
Part 3: Calculation for Sam's Bill
- Sam's bill is for Rs. 5000 for 4 months.
- There is no information given about whether Sam discounted the bill or not.
- If Sam discounted the bill at the same rate as Ram, then the discount would be:
- Discount = (5000 * 15/100 * 4/12) = Rs. 187.50
- Amount remitted = 5000 - 187.50 = Rs. 4812.50
- If Sam did not discount the bill, then the maturity value would be:
- Maturity value = Amount remitted + Interest
- Interest = (Amount remitted * Rate * Time)/100
- Time = 4 months
- Rate = 15% per annum
- Interest = (4812.50 * 15/100 * 4/12) = Rs. 180.47
- Maturity value = 4812.50 + 180.47 = Rs. 4992.97
Therefore, the maturity value of Ram's bill is Rs. 3994.38, and the maturity
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On first January 2019 ram pro and Sam acceptable at three months for Rs. 4000 on for January 2019 ram discounting the bill at the rate 15% per annum and remitted 11 1 1/2 to 2 sisters I am on 1 to 2019 same drawer and ram acceptable for four months for Rs..03?
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On first January 2019 ram pro and Sam acceptable at three months for Rs. 4000 on for January 2019 ram discounting the bill at the rate 15% per annum and remitted 11 1 1/2 to 2 sisters I am on 1 to 2019 same drawer and ram acceptable for four months for Rs..03? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about On first January 2019 ram pro and Sam acceptable at three months for Rs. 4000 on for January 2019 ram discounting the bill at the rate 15% per annum and remitted 11 1 1/2 to 2 sisters I am on 1 to 2019 same drawer and ram acceptable for four months for Rs..03? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On first January 2019 ram pro and Sam acceptable at three months for Rs. 4000 on for January 2019 ram discounting the bill at the rate 15% per annum and remitted 11 1 1/2 to 2 sisters I am on 1 to 2019 same drawer and ram acceptable for four months for Rs..03?.
On first January 2019 ram pro and Sam acceptable at three months for Rs. 4000 on for January 2019 ram discounting the bill at the rate 15% per annum and remitted 11 1 1/2 to 2 sisters I am on 1 to 2019 same drawer and ram acceptable for four months for Rs..03? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about On first January 2019 ram pro and Sam acceptable at three months for Rs. 4000 on for January 2019 ram discounting the bill at the rate 15% per annum and remitted 11 1 1/2 to 2 sisters I am on 1 to 2019 same drawer and ram acceptable for four months for Rs..03? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On first January 2019 ram pro and Sam acceptable at three months for Rs. 4000 on for January 2019 ram discounting the bill at the rate 15% per annum and remitted 11 1 1/2 to 2 sisters I am on 1 to 2019 same drawer and ram acceptable for four months for Rs..03?.
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