Question

.A.N.Kapoor had the following bills receivable and bills payable against J.N.Ramanathan. Calculate the average due date when the payment can be made or receiver without any loss of interest to either party. Note: Gazetted holidays intervening in the period: 15 August 1984 and 2nd October 1984, Emergency holiday, 18th September 1984. (C) Bills receivable Bills payable Date Amount Tenure Months ) Date Amount Tenure Months ) 1.5.84 12.6.84 15.6.84 7.7.84 10.7.84 2,000 1,500 3,000 1,000 2,500 4 2 3 2 1 10.5.84 29.5.84 6.6.84 17.6.84 30.6.84 1,000 3,000 2,000 1500 500 2 4 2 3 1

Answer 1

Answer:

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Answer 2

Answer

Average due date is 1/7/84

Explanation

Bills receivable

Due date Bill amount No.of days Product

4/9/84 2000 53 1,06,000

14/8/84 1500 32 48,000

18/8/84 3000 36 1,08,000

10/9/84 1000 59 59,000

13/9/84 2,500 62 1,55,000

Total 10,000 4,76,000

Bills payable

Due date Bill amount No. of days Amount

13/7/84 1000 0 0

1/10/84 3000 111 3,33,000

9/8/84 2000 27 54,000

20/9/84 1500 69 1,03,500

2/8/84 500 20 10,000

Total 8000 500,500

Base date will be in near day so 13/7/84 is to be taken as base date

Average due date = Base date ± difference of product

difference of amount

=13/7/84±24500/2000

= 13/7/84-12.25 days

= 1/7/84