HSC Commerce 12th Board ExamMaharashtra State Board
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A Bill Was Drawn on 12th April for 3 , 500 and Was Discounted on 4th July at 5% P.A. If the Banker Paid 3 , 465 for the Bill. Find Period of the Bill. - HSC Commerce 12th Board Exam - Mathematics and Statistics

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Question

A bill was drawn on 12th April for ` 3,500` and was discounted on 4th July at 5% p.a. If the banker paid ` 3,465` for the bill. Find period of the bill. 

Solution

S.D. = 3500, C.V. = 3465
r = 5%
Now        B.D. = S.D. – C.V.
               = 3500 – 3465
               = 35 

Also `(B.D=S.Dxxnxxr)/100` 

`35=(3500xxnxx5)/100` 

`n=1/5"year"=365/5=73"days"` 

The period for which the discount is deducted
is 73 days which is counted from the date of
discounting i.e., 4th July 

July

27

Augus 

31

September

15

Total

73

∴ The legal due date is 15 September. Hence
the period of the bill is from 12th April to 15
September i.e., 5 month.

  Is there an error in this question or solution?

APPEARS IN

 2017-2018 (March) (with solutions)
Question 5.2.1 | 4.00 marks

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Solution A Bill Was Drawn on 12th April for 3 , 500 and Was Discounted on 4th July at 5% P.A. If the Banker Paid 3 , 465 for the Bill. Find Period of the Bill. Concept: Commission, Brokerage and Discount.
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