Question

Q-1
A bill of 200.000 drawn on 7th January 2019 due for payment on 10" April 2019* is
discounted with bank on 10" February, 2019 at 12% pa The amount of discounting charge
4800
B) 48000
c)
D)
4000
T8000​

Answer 1

Answer:

D) 4000

Explanation:

Given that,

Bill amount = 2,00,000

drawn on 7/1/19

due for 10/4/19

discounted with bank on 10/2/19 at 12%

discount charge = bill amount × 12% × difference between the due for payment and date of discounting/ 12 months

= 2,00,000 × 12/100 × 2/12

= 4000.