Question

(5)
A bill which is drawn on 12th June, 2016 is payable
after two months, the due date of the bill will be​

Answer 1

Answer:

14 August, 2016.

Explanation:

Bill drawn_12 august,2016

payable after 2months

then July, August

so, 12 August, 2016+3days grace.

then due date 15 August, 2016.

But 15 August is a public holiday. Therefore we pay one day before, then it will be answer is 14 August, 2016.

Answer 2

14 August 2016

Explanation:

• Due date is the maturity date, which means that the on that date the bill will be due or ready to be paid by the person who holds the bill to the party who draw the bill.

• So, in this case, the due date would be:

Due date = Date of Issue + Number of months + Grace period

where

Date of issue is 12 June 2016

Number of months are 2, so July and August

Grace period is of 3 days

Putting the days above:

Due date = 12 June 2016 + 2 months + 3 days

Due date = 12 August + 3 days

Due date = 15 August

• So, the due date will be 15 August, but 15 August is a public holiday. Therefore, it will be paid a before the due date. Then the due date will be 14 August.