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Question
On 13.07.2019, X drew a bill on Y for Rs.1,00,000 for 30 days. In this case, the due date of the date of the bill will be
On 13.07.2019, X drew a bill on Y for Rs.1,00,000 for 30 days. In this case, the due date of the date of the bill will be
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Solution
The correct option is B 14.08.2019
When the date of maturity is a public holiday, the day preceeding the public holiday is considered as maturity date. 13.07.19 + 30 days
= 12.08.2019 + 3 days grace
= 15.08.19.
Since 15th August is a public holiday, the date of maturity will be 14.08.2019.
When the date of maturity is a public holiday, the day preceeding the public holiday is considered as maturity date. 13.07.19 + 30 days
= 12.08.2019 + 3 days grace
= 15.08.19.
Since 15th August is a public holiday, the date of maturity will be 14.08.2019.
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