A draws a bill on B for Rs. 4,500 for mutual accommodation in the ratio 2:1. A got it discounted at Rs. 4,230 and remitted 1/3rd of the proceeds to B. At the time of maturity, how much amount A should remit to B such that B can pay off bill?

Rs. 3,000

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Rs. 2,880

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Rs. 2,920

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None of the above

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Solution

The correct option is A
Rs. 3,000

A should pay Rs. 4,500 $* \frac{2}{3}$ = Rs. 3,000.

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A draws a bill on B for Rs. 4,500 for mutual accommodation in the ratio 2:1. A got it discounted at Rs. 4,230 and remitted 1/3rd of the proceeds to B. At the time of maturity, how much amount A should remit to B such that B can pay off bill?

The correct option is A Rs. 3,000 A should pay Rs. 4,500 ∗23 = Rs. 3,000.

The correct option is A
Rs. 3,000

A should pay Rs. 4,500 $* \frac{2}{3}$ = Rs. 3,000.