A bill due 6 months hence was accepted on 17th June- By discounting it at 5- the banker gained Rs 2 and it is 150th of the T-D- at the same rate- Find the amount of the bill in Rs-

Basu accepted a bill drawn by Nandu amounted to Rs.4,000 and payable after four months. Nandu discounted it with banker @ 18% per annum. On the due date,bill was dishonored. Bank paid Rs.40 as noting charges.After on month Basu paid the amount due to Nandu. Pass Journal entries in the books of Nandu only.

Q. The true discount on a bill due

9

months hence at

16

% per annum is

R s . 189

. The amount of the bill is:

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A bill due 6 months hence was accepted on17th June. By discounting it at 5% the banker gained Rs 2 and it is (150th) of the T.D. at the same rate. Find the amount of the bill (in Rs).

The correct option is A 5100B.G. = Rs2 T.D. = 50×B.G.=Rs100B.D.=T.D.+B.G.=Rs 102 Now, A=B.D×T.DB.D−T.D = 102×100102−100= Rs 5100.

A bill due $6$ months hence was accepted on $17^{t h}$ June. By discounting it at $5 %$ the banker gained Rs $2$ and it is $({\frac{1}{50}}^{t h})$ of the T.D. at the same rate. Find the amount of the bill (in Rs).

The correct option is A $5100$
B.G. = $R s 2$
T.D. = $50 \times B . G . = R s 100$
$B . D . = T . D . + B . G . = R s$ $102$
Now,
$A = \frac{B . D \times T . D}{B . D - T . D}$ = $\frac{102 \times 100}{102 - 100}$ = Rs $5100$ .