CA Foundation Exam > CA Foundation Questions > Kumar draws a bill on Rajat for Rs. 50,000 fo...
Start Learning for Free
Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?
- a)Rs. 28,500
- b)Rs. 19,000
- c)Rs. 30,000
- d)Rs. 20,000
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in...
Given:
- Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2.
- Rajat accepted the bill.
- Kumar got it discounted for Rs. 47,500.
To find: How much money should Kumar remit to Rajat?
Solution:
Let's first calculate the share of Kumar and Rajat in the bill amount:
- Total bill amount = Rs. 50,000
- Ratio of mutual accommodation = 3:2
- Sum of ratio terms = 3 + 2 = 5
- Kumar's share = (3/5) * 50,000 = Rs. 30,000
- Rajat's share = (2/5) * 50,000 = Rs. 20,000
Now, since Kumar got the bill discounted for Rs. 47,500, he received only Rs. 47,500 from the bank instead of the full bill amount of Rs. 50,000. This means that he needs to pay Rajat the full bill amount of Rs. 50,000, and keep the discount amount of Rs. 2,500 as his profit.
Therefore, the amount that Kumar needs to remit to Rajat is:
- Kumar's share of bill amount = Rs. 30,000
- Rajat's share of bill amount = Rs. 20,000
- Total bill amount = Rs. 50,000
- Discount received by Kumar = Rs. 2,500
- Amount to be remitted by Kumar to Rajat = (Total bill amount - Discount received by Kumar) * (Rajat's share of bill amount / Total bill amount) = (50,000 - 2,500) * (20,000 / 50,000) = Rs. 19,000
Therefore, the correct answer is option 'B' - Rs. 19,000.
- Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2.
- Rajat accepted the bill.
- Kumar got it discounted for Rs. 47,500.
To find: How much money should Kumar remit to Rajat?
Solution:
Let's first calculate the share of Kumar and Rajat in the bill amount:
- Total bill amount = Rs. 50,000
- Ratio of mutual accommodation = 3:2
- Sum of ratio terms = 3 + 2 = 5
- Kumar's share = (3/5) * 50,000 = Rs. 30,000
- Rajat's share = (2/5) * 50,000 = Rs. 20,000
Now, since Kumar got the bill discounted for Rs. 47,500, he received only Rs. 47,500 from the bank instead of the full bill amount of Rs. 50,000. This means that he needs to pay Rajat the full bill amount of Rs. 50,000, and keep the discount amount of Rs. 2,500 as his profit.
Therefore, the amount that Kumar needs to remit to Rajat is:
- Kumar's share of bill amount = Rs. 30,000
- Rajat's share of bill amount = Rs. 20,000
- Total bill amount = Rs. 50,000
- Discount received by Kumar = Rs. 2,500
- Amount to be remitted by Kumar to Rajat = (Total bill amount - Discount received by Kumar) * (Rajat's share of bill amount / Total bill amount) = (50,000 - 2,500) * (20,000 / 50,000) = Rs. 19,000
Therefore, the correct answer is option 'B' - Rs. 19,000.
Free Test
FREE
| Start Free Test |
Community Answer
Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in...
Discount bill ₹-- (50,000-47,500) =2500
2500*2/5=1000___Rajat discount amount
Rajat bill amount=50000*2/5=20000
Kumar remit to Rajat=20,000-1000=19000
2500*2/5=1000___Rajat discount amount
Rajat bill amount=50000*2/5=20000
Kumar remit to Rajat=20,000-1000=19000
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer?
Question Description
Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer?.
Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer?.
Solutions for Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Kumar draws a bill on Rajat for Rs. 50,000 for mutual accommodation in the ratio of 3:2. Rajat accepted the bill. Kumar got it discounted for Rs. 47,500. How much money should Kumar remit to Rajat?a)Rs. 28,500b)Rs. 19,000c)Rs. 30,000d)Rs. 20,000Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup