Question

A trader having accepted the following several bills falling due on different dates, now desires to have these bills cancelled and to accept a new bill for the whole amount payable on the average due date : You are required to find the said average due date.

• A. June $07,2012$
• B. May $04,2012$
• C. May $07,2012$
• D. June $04,2012$

Answer 1

The correct option is A June $07,2012$

Due Dates of Bills :

$\Rightarrow$ 1st March 2012 + 2 months + 3 days = 4th May 2012

$\Rightarrow$ 10th March 2012 + 3 Months + 3 days = 13th June 2012

$\Rightarrow$ 5th April 2012 + 2 Months + 3 days = 8th June 2012

$\Rightarrow$ 20th April + 1 Month + 3 days = 23rd May 2012

$\Rightarrow$ 10th May 2012 + 2 Months + 3 days = 13th July 2012.

$\Rightarrow$ Here, we are taking 4th May 2012 as base date.

$DueDate$	$Amount$	$No.ofdaysfrom$ $4thMay2012$	$Product$
4th May 2012	400	0	0
13th June 2012	300	40	12000
8th June 2012	200	35	7000
23rd May 2012	375	19	7125
13th July 2012	500	70	35000
$Total$	$1775$		$61125$

$\Rightarrow$ $AverageDueDate=BaseDate+\frac{TotalofProducts}{TotalAmount}$

$\Rightarrow$ $AverageDueDate=4thMay2012+\frac{61125}{1775}$

$\Rightarrow$ $AverageDueDate=4thMay2012+34days$

$\therefore$ $AverageDueDate=June07,2012$.