On 1.1.13 X drew a bill on Y for 1,50,000. At maturity, the bill returned dishonoured as Y become insolvent and 40 paise per rupee is recovered from his estate. The amount recovered is ____________.

60,000

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1,50,000

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99,000

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None.

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Solution

The correct option is A 60,000
Amount to be recovered = 40 paise in a rupee ( 40%)
= 1,50,000 x 40%
= 60,000

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On 1.1.13 X drew a bill on Y for 1,50,000. At maturity, the bill returned dishonoured as Y become insolvent and 40 paise per rupee is recovered from his estate. The amount recovered is ____________.

The correct option is A 60,000Amount to be recovered = 40 paise in a rupee ( 40%) = 1,50,000 x 40% = 60,000

The correct option is A 60,000
Amount to be recovered = 40 paise in a rupee ( 40%)
= 1,50,000 x 40%
= 60,000