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On 1.1.05 X draw a bill on Y for 3 months for Rs. 10,000. On 4.3.05 Y pay the bill to X at 12% discount, the amount of discount will be:
- a)100
- b)200
- c)300
- d)50
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
On 1.1.05 X draw a bill on Y for 3 months for Rs. 10,000. On 4.3.05 Y ...
Calculation of Discount on Bill
Date of Bill: 1.1.05
Amount of Bill: Rs. 10,000
Period of Bill: 3 months
Date of Payment: 4.3.05
Rate of Discount: 12%
To calculate the discount on the bill, we need to first calculate the time period between the date of the bill and the date of payment, which is 2 months and 3 days (from 1.1.05 to 4.3.05).
We can then use the following formula to calculate the discount:
Discount = Face Value of Bill * Rate of Discount * Time period / 365
Substituting the values, we get:
Discount = 10,000 * 12% * 62 / 365
Discount = 200
Therefore, the amount of discount on the bill is Rs. 200. Option A is the correct answer.
Date of Bill: 1.1.05
Amount of Bill: Rs. 10,000
Period of Bill: 3 months
Date of Payment: 4.3.05
Rate of Discount: 12%
To calculate the discount on the bill, we need to first calculate the time period between the date of the bill and the date of payment, which is 2 months and 3 days (from 1.1.05 to 4.3.05).
We can then use the following formula to calculate the discount:
Discount = Face Value of Bill * Rate of Discount * Time period / 365
Substituting the values, we get:
Discount = 10,000 * 12% * 62 / 365
Discount = 200
Therefore, the amount of discount on the bill is Rs. 200. Option A is the correct answer.
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On 1.1.05 X draw a bill on Y for 3 months for Rs. 10,000. On 4.3.05 Y ...
2 months are already over so take 10000*12%*1/12 as only one month is remaining u will get answer as a
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On 1.1.05 X draw a bill on Y for 3 months for Rs. 10,000. On 4.3.05 Y pay the bill to X at 12% discount, the amount of discount will be:a)100b)200c)300d)50Correct answer is option 'A'. Can you explain this answer?
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