Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
480 views
in Accounts by (45.5k points)
closed by

Shefali Traders drew a bill on Maya for ₹ 30,000 on 1st Oct. 2019 payable after 3 months.

Calculate the amount of discount in the following cases:

(i) Shefali Traders discounted the bill on the same day @ 12 % p.a. 

(ii) Shefali Traders discounted the bill on 1st Nov. 2019 @ 12 % p.a. 

(iii) Shefali Traders discounted the bill on 1st Dec. 2019 @ 12 % p.a.

1 Answer

+1 vote
by (42.2k points)
selected by
 
Best answer

Discount = Amount of Bill × \(\frac{Rate}{100}\times\frac{Unexpired\,days}{365}\)

(i) Discount = 30,000 × \(\frac{12}{100}\times\frac{3}{12}\) = ₹ 900

(ii) Discount = 30,000 × \(\frac{12}{100}\times\frac{2}{12}\) = ₹ 600

(iii) Discount = 30,000 × \(\frac{12}{100}\times\frac{1}{12}\) = ₹ 300

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...