Question

X-draws a trade bill of Rs. 25000 for 6 months on Y. After holding the bill for 1.5 months, X-discounts the bill with
bank @ 10% p.a, the amount of discount on bill is? ​

Answer 1

Answer:

bank ac dr 24692

discounting charges ac dr 308

to bill receivables ac 25000

Answer 2

Given:

cost of trade bill = 25000

time  for which X-draws a trade = 1.5 months

Discount = 10% p.a

To Find:

The amount of discount on bill

Explanation:

Here in this question it doesn't means that you have to calculate bill for 1.5 months, in this case it means that 1.5 months is left in the 6 month period-

So, then for calculating bills

25000× (10/100)× (4.5/12)

= 937.5

Answer = 937.5