A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance for A & B will be:

Rs. 25,000 each

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Rs. 24,250 each

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Rs. 16,167 each

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Rs. 32,333 each

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Solution

The correct option is B
Rs. 24,250 each

Rs. $50, 000 * 12 % * \frac{3}{12}$ = Rs. 1,500
Discount
= Rs. $\frac{1500}{2}$
= Rs. 750 ( to be borne by each party)

Remittance for each A and B
= Rs. $\frac{50, 000}{2}$ - Rs. 750
= Rs. 24,250

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A drew a bill on B for Rs. 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance for A & B will be:

The correct option is B Rs. 24,250 each Rs. 50,000∗12%∗312 = Rs. 1,500 Discount = Rs. 15002 = Rs. 750 ( to be borne by each party) Remittance for each A and B = Rs. 50,0002 - Rs. 750 = Rs. 24,250

The correct option is B
Rs. 24,250 each

Rs. $50, 000 * 12 % * \frac{3}{12}$ = Rs. 1,500
Discount
= Rs. $\frac{1500}{2}$
= Rs. 750 ( to be borne by each party)

Remittance for each A and B
= Rs. $\frac{50, 000}{2}$ - Rs. 750
= Rs. 24,250