Question

On $\mathrm{16.6.2019}X$ draws a bill on $Y$ for $Rs.25,000$ for $30$ days. $19th$ July is a public holiday, maturity date of the bill will be: ________.

• A. $19thJuly$
• B. $18thJuly$
• C. $17thJuly$
• D. $16thJuly$

Answer 1

Answer: (B)

$18thJuly$

$30$ days from $\mathrm{16.6.2019}$ ends on $\mathrm{16.7.2019}+3$ grace days; hence date of maturity $\mathrm{19.7.2019}$ but since $\mathrm{17.7.2019}$ is public holiday due date will be preceding business day $\mathrm{18.7.2019}$.