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The bill of Rs. 10,000 accepted by Ritesh on 1 July 2016, was discounted by Hitesh on 15 July 2016 for Rs. 9,600. On 4th October 2016, the bill was dishonoured and bank notified it for Rs. 200. The amount to be received from Ritesh would be
  • a)
    Rs. 10,600
  • b)
    Rs. 10,000
  • c)
    Rs. 10,200
  • d)
    Rs. 10,400
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
The bill of Rs. 10,000 accepted by Ritesh on 1 July 2016, was discount...
To find out the amount to be received from Ritesh, we need to consider the following points:
1. The face value of the bill: Rs. 10,000
2. The amount for which the bill was discounted by Hitesh: Rs. 9,600
3. The bank notification charges when the bill was dishonoured: Rs. 200

Now, let's calculate the amount to be received from Ritesh:
- Since the bill was dishonoured, Ritesh needs to pay back the discounted amount of Rs. 9,600 to Hitesh.
- In addition to the discounted amount, Ritesh also needs to pay the bank notification charges of Rs. 200.

So, the total amount to be received from Ritesh would be:
Rs. 9,600 (discounted amount) + Rs. 200 (bank notification charges) = Rs. 10,200

Hence, the correct answer is (c) Rs. 10,200.
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Most Upvoted Answer
The bill of Rs. 10,000 accepted by Ritesh on 1 July 2016, was discount...
To find out the amount to be received from Ritesh, we need to consider the following points:
1. The face value of the bill: Rs. 10,000
2. The amount for which the bill was discounted by Hitesh: Rs. 9,600
3. The bank notification charges when the bill was dishonoured: Rs. 200

Now, let's calculate the amount to be received from Ritesh:
- Since the bill was dishonoured, Ritesh needs to pay back the discounted amount of Rs. 9,600 to Hitesh.
- In addition to the discounted amount, Ritesh also needs to pay the bank notification charges of Rs. 200.

So, the total amount to be received from Ritesh would be:
Rs. 9,600 (discounted amount) + Rs. 200 (bank notification charges) = Rs. 10,200

Hence, the correct answer is (c) Rs. 10,200.
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Community Answer
The bill of Rs. 10,000 accepted by Ritesh on 1 July 2016, was discount...
Bill discount charge is born by who is discounted the bill and bill is 10000 and also dishonour charge 200 so..received the balance of 10200
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The bill of Rs. 10,000 accepted by Ritesh on 1 July 2016, was discounted by Hitesh on 15 July 2016 for Rs. 9,600. On 4th October 2016, the bill was dishonoured and bank notified it for Rs. 200. The amount to be received from Ritesh would bea)Rs. 10,600b)Rs. 10,000c)Rs. 10,200d)Rs. 10,400Correct answer is option 'C'. Can you explain this answer?
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The bill of Rs. 10,000 accepted by Ritesh on 1 July 2016, was discounted by Hitesh on 15 July 2016 for Rs. 9,600. On 4th October 2016, the bill was dishonoured and bank notified it for Rs. 200. The amount to be received from Ritesh would bea)Rs. 10,600b)Rs. 10,000c)Rs. 10,200d)Rs. 10,400Correct answer is option 'C'. 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 The bill of Rs. 10,000 accepted by Ritesh on 1 July 2016, was discounted by Hitesh on 15 July 2016 for Rs. 9,600. On 4th October 2016, the bill was dishonoured and bank notified it for Rs. 200. The amount to be received from Ritesh would bea)Rs. 10,600b)Rs. 10,000c)Rs. 10,200d)Rs. 10,400Correct answer is option 'C'. 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 The bill of Rs. 10,000 accepted by Ritesh on 1 July 2016, was discounted by Hitesh on 15 July 2016 for Rs. 9,600. On 4th October 2016, the bill was dishonoured and bank notified it for Rs. 200. The amount to be received from Ritesh would bea)Rs. 10,600b)Rs. 10,000c)Rs. 10,200d)Rs. 10,400Correct answer is option 'C'. Can you explain this answer?.
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