Question

1. A bill was drawn on 12th June 2020 for two months, Its due date will be
(a) 13th August 2020
(b) 14"" August 2020
(c) 151h August 2020
(d) 16 August 2020​

Answer 1

due date = date of bill+ Period of bill+3 days of grace

= 12th June + 2 month + 3 days

=15 th June 2020

if due falls on a public holiday the due date is the preceding business day.

In the above case, 15th August is a public holiday

Hence, the due date will be 14th August or 16th 2020.

Answer By

Answer 2

(B) 14th August 2020

When the buyer is unable to make immediate payment at the time of purchase, the seller draws a bill on the buyer so that he can pay the amount at a later fixed date. To calculate the due date for the bill, we add the time period to the date on which the bill was issued and add 3 days extra period. Here, the bill was drawn on 12th June 2020 so the due date will be:-

= 12th June 2020 + 2 months + 3 days extra period.

= 15th August 2020

However, 15th August is a public holiday. So, 14th August 2020 will be the due date.