Question

On 12th July, 2021, A draws a bill of on B for t50,000 for one month and 15th August is a public holiday. What will be the maturity date of the bill?​

Answer 1

Answer:

16 th August.

The due date falls on 16th August.

Let's Find how it becomes ;

First , We should note the time period. Here, the time period is 1 month.

And , The month be August. (August 12)

Next , we have to note that 3 days of grace (August 12 + 3 ) Then, the date becomes August 15.

And then, we have to note that the due date falls on public holiday or not. so, here August 15 is Public holiday. So the due date falls on to next working day.

Hence, it becomes August 16 th.