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(4) A bill of Rs 50.000 for 4 months was drawn and 01-01-2019 and was accepted by drawee. It was discounted by drawer with bank on 01. 02. 2019 at 8 % p.a.Find out the amount of discount. |
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Answer» Answer: DATE of Bill Tenure Calculation Due Date (i) December 01, 2018 60 Days 30 (December) + 30 (January) + 3 days of grace February 02, 2019 (ii) April 30, 2019 2 Months 2 Months from April 30, 2019 would be June 30, 2019 + 3 days of grace July 03, 2019 (III) January 28, 2019 1 Month 1 Month from January 28, 2019 would be February 28, 2019 + 3 days of grace March 03, 2019 (iv) November 23, 2018 2 Months 2 Months from November 23, 2018 would be January 23, 2019 + 3 days of grace January 26, 2019, but it is a national holiday so, due date would be one DAY before i.e., January 25, 2019 (v) May 29, 2018 4 Months 4 Months from May 29, 2019 would be September 29, 2019 + 3 days of grace |
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