HSC Commerce 12th Board ExamMaharashtra State Board
Share
Notifications

View all notifications
Books Shortlist
Your shortlist is empty

Solution for 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

Login
Create free account

Forgot password?
ConceptCommission, Brokerage and Discount

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

Video TutorialsVIEW ALL [1]

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.
S