Question

question 1)Rahul draws a bill on atul Rs 15000 on 1st april 2019 payable after 4 months. calculate amount of discount in followed cases : i) bill has been discounted @10 percent on 1st april 2019
ii) bill has been discounted @ 10 percent on 1st June 2019

question 2) Shiva drawn a bill on Ganesh for RS
21,900 on 15th May 2019 for 60 days. he discounts bill on same day with his bank at 8percent
.calculate amount of discount. ​

Answer 1

15000=10 percent = 150 rs on 1 April

15000= 10 percent = 150 rs on 1 June

150

+150

300

15000-300= 14700

Answer 2

Q. 1) Rahul draws a bill on Atul Rs 15000 on 1st April 2019 payable after 4 months. Calculate amount of discount in followed cases :

i) Bill has been discounted @ 10% on 1st april 2019.

ii) Bill has been discounted @ 10% on 1st June 2019.

Answer:

i) Bill has been discounted @ 10% on 1st april 2019.

We know that,

$\small{\tt{Discount = Amount \: of \: Bill \times \frac{ Rate}{100}\times \frac{Unexpired \: Months}{12}}}$

$\tt = 15,000 \times \frac{10}{100} \times \frac{4}{12}$

$\tt= Rs.500$

Thus, the amount of discount, when bill has been discounted @ 10% on 1st april 2019, is Rs. 500.

[Bill is with the bank for 4 months.]

ii) Bill has been discounted @ 10% on 1st June 2019.

As we know,

$\small{\tt{Discount = Amount \: of \: Bill \times \frac{ Rate}{100}\times \frac{Unexpired \: Months}{12}}}$

$\tt= 15,000 \times \frac{10}{100} \times \frac{2}{12}$

$\tt = Rs.200$

Thus, the amount of discount, when bill has been discounted @ 10 percent on 1st June 2019 is Rs. 200.

[Bill is with the bank for 2 months only.]

2) Shiva drawn a bill on Ganesh for Rs. 21,900 on 15th May 2019 for 60 days. he discounts bill on same day with his bank at 8%. Calculate amount of discount.

Answer:

As we know,

$\small{\tt{Discount = Amount \: of \: Bill \times \frac{ Rate}{100}\times \frac{Unexpired \: Months}{12}}}$

$\tt= 21,900 \times \frac{8}{100} \times \frac{60}{365}$

$\tt= Rs.288$

Thus, the amount of discount is Rs. 288.