Juu. Luuc. VO 14
(2)
f) Srinidhi Bank Ltd. Has discounted the following bills during the year ended
31.12.19 at a discount of 5% per annum.
Amount of bill in Rupees
Due date
1,00.000
31.01.2020
80000
30.04.2020
60000
03.03.2020
Calculate rebate on bill discounted and show the treatment.
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Answer:due date
31,jan,2020
amount = 100000
no.of days aftet 31st dec 2019 = 31
rate of discount = 5%
proportionate discount = 100000×5/100×31/366=424
same as abave
80000×5/100×121/366=1322
60000×5/100×63/366=516
rebate of bill discount = rs.2261 (i.e. rs 423+1322+516)
Explanation:
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