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Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?
- a)Rs.14,000
- b)Rs.14,900
- c)Rs.15,000
- d)Rs.15,050
Correct answer is option 'D'. Can you explain this answer?
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Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with ...
Calculation of Amount Debited by Bank to Ram's Account:
Discounted Value of the Bill = Rs.14,900
Noting Charges = Rs.50
Total amount debited by Bank = Discounted Value of the Bill + Noting Charges
= Rs.14,900 + Rs.50
= Rs.15,050
Therefore, the amount to be debited by Bank to Ram's account is Rs.15,050.
Explanation:
The given problem involves the calculation of the amount debited by the bank to Ram's account after the dishonour of the bill. Ram draws a bill on Rahim for Rs.15,000, which means that Rahim owes Ram Rs.15,000. Ram discounts the bill with the bank at Rs.14,900, which means that the bank pays Ram Rs.14,900 in exchange for the bill. This is because the bank charges a discounting fee for the bill, which is calculated based on the time left until the due date and the risk associated with the bill.
However, on the due date, the bill is dishonoured, which means that Rahim fails to pay the amount owed to Ram. In such a scenario, the bank charges noting charges, which are the fees charged for recording the dishonour of the bill. In this case, the noting charges are Rs.50.
To calculate the amount debited by the bank to Ram's account, we need to add the discounted value of the bill and the noting charges. Therefore, the total amount debited by the bank is Rs.15,050, which is the sum of Rs.14,900 and Rs.50.
Discounted Value of the Bill = Rs.14,900
Noting Charges = Rs.50
Total amount debited by Bank = Discounted Value of the Bill + Noting Charges
= Rs.14,900 + Rs.50
= Rs.15,050
Therefore, the amount to be debited by Bank to Ram's account is Rs.15,050.
Explanation:
The given problem involves the calculation of the amount debited by the bank to Ram's account after the dishonour of the bill. Ram draws a bill on Rahim for Rs.15,000, which means that Rahim owes Ram Rs.15,000. Ram discounts the bill with the bank at Rs.14,900, which means that the bank pays Ram Rs.14,900 in exchange for the bill. This is because the bank charges a discounting fee for the bill, which is calculated based on the time left until the due date and the risk associated with the bill.
However, on the due date, the bill is dishonoured, which means that Rahim fails to pay the amount owed to Ram. In such a scenario, the bank charges noting charges, which are the fees charged for recording the dishonour of the bill. In this case, the noting charges are Rs.50.
To calculate the amount debited by the bank to Ram's account, we need to add the discounted value of the bill and the noting charges. Therefore, the total amount debited by the bank is Rs.15,050, which is the sum of Rs.14,900 and Rs.50.
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Community Answer
Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with ...
Yes d is correct option.
RAM will be liable to pay bank the amount for which bill was drawn,i.e.,₹15000 as well as the noting charges paid by bank,i.e,₹50, on behalf of RAM . However the noting charge will be later on received by Ram from RAHIM but bank will receive this amount from Ram
THUS BANK WILL debit RAM BY ₹15050
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Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?a)Rs.14,000b)Rs.14,900c)Rs.15,000d)Rs.15,050Correct answer is option 'D'. Can you explain this answer?
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Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?a)Rs.14,000b)Rs.14,900c)Rs.15,000d)Rs.15,050Correct answer is option 'D'. 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 Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?a)Rs.14,000b)Rs.14,900c)Rs.15,000d)Rs.15,050Correct answer is option 'D'. 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 Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?a)Rs.14,000b)Rs.14,900c)Rs.15,000d)Rs.15,050Correct answer is option 'D'. Can you explain this answer?.
Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?a)Rs.14,000b)Rs.14,900c)Rs.15,000d)Rs.15,050Correct answer is option 'D'. 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 Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?a)Rs.14,000b)Rs.14,900c)Rs.15,000d)Rs.15,050Correct answer is option 'D'. 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 Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?a)Rs.14,000b)Rs.14,900c)Rs.15,000d)Rs.15,050Correct answer is option 'D'. Can you explain this answer?.
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ample number of questions to practice Ram draws a bill on Rahim for Rs.15,000. The bill was discounted with Bank at Rs.14,900. On the due date the bill was dishonoured and the noting charges amounted to Rs.50. What is the amount to be debited by Bank to Ram's account?a)Rs.14,000b)Rs.14,900c)Rs.15,000d)Rs.15,050Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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