Question

Akbar owed to Babar 6,000, Akbar accepted the bill drawn by Babar for the
amount at 4 months. Babar discounted the bill with his bank for 5,850. Before
the due date Akbar approached Babar with request for renewal of the bill. Babar
agreed on the condition that 4,000 to paid immediately in cash together with
interest on remaining amount at 12% p.a. for 3 months and for the balance Akbar
should accept new bill at 3 months. These arrangements were carried through.
Babar endorsed the new bill to Kadar. Akbar met the bill on due date.Re h v h J k k .

Answer 1

Answer:

Akbar owed to Babar Rs. 6,000. Akbar accepted the bill drawn by Babar for the amount at 4 months. Babar discounted the bill with his bank for Rs. 5,850. Before the due date Akbar ...