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Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation.
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Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th f...
The rebate amount will be Rs 190. Êxplanation ~ Total amount 10000 × 57 ÷ 360 × 12 ÷ 100 = 190Here,~10000 is total amount~57= 54 is Day remaining and 3 days of grace ÷ by total Days 360~Intrest rate 12%
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Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th f...
CALCULATING THE MATURITY DATE OF THE BILL:
To calculate the maturity date of the bill, we add 90 days to the date of acceptance, i.e., 10th Feb 2010.
Maturity date = 10th May 2010.
CALCULATING THE TIME PERIOD BETWEEN THE DATE OF ACCEPTANCE AND DATE OF RETIREMENT:
To calculate the time period between the date of acceptance and date of retirement, we count the number of days from 18th March 2010 to 10th May 2010.
Time period = (31-18) + 31 + 10 = 53 days.
CALCULATING THE AMOUNT OF REBATE:
The rebate is calculated using the following formula:
Rebate = Principal * Rate * Time / 360
Where,
Principal = Rs.10000
Rate = 12% p.a.
Time = 53 days
Using the above formula, we get:
Rebate = 10000 * 12 * 53 / 36000 = Rs. 190.67 (approx)
Therefore, the rebate amount offered by Rahul is Rs.190.67 (approx).
To calculate the maturity date of the bill, we add 90 days to the date of acceptance, i.e., 10th Feb 2010.
Maturity date = 10th May 2010.
CALCULATING THE TIME PERIOD BETWEEN THE DATE OF ACCEPTANCE AND DATE OF RETIREMENT:
To calculate the time period between the date of acceptance and date of retirement, we count the number of days from 18th March 2010 to 10th May 2010.
Time period = (31-18) + 31 + 10 = 53 days.
CALCULATING THE AMOUNT OF REBATE:
The rebate is calculated using the following formula:
Rebate = Principal * Rate * Time / 360
Where,
Principal = Rs.10000
Rate = 12% p.a.
Time = 53 days
Using the above formula, we get:
Rebate = 10000 * 12 * 53 / 36000 = Rs. 190.67 (approx)
Therefore, the rebate amount offered by Rahul is Rs.190.67 (approx).
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Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation.
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Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation. 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 Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation. covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation..
Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation. 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 Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation. covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation..
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Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation., a detailed solution for Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation. has been provided alongside types of Parul accepted a bill for 90 days of Rs.10000 drawn by Rahul on 10th feb.2010.On 18th March,2010,Parul wished to retire the bill.Rahul offered rebate@12%p.a. considering the year of 360 days.Rebate amount will be?anyone plz answer with explanation. theory, EduRev gives you an
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