Ram gets Mohan’s acceptance for Rs. 12,000 discounted at 2 months at 12 % p.a. The amount of discount will be :

Rs. 240

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Rs. 120

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Rs. 80

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Rs. 40

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Solution

The correct option is A
Rs. 240

Discount
= Rs. $12, 000 * 12 % * \frac{2}{12}$ = Rs. 240.

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PRACTICAL PROBLEMS

Journalise the following bill transactions in the books of Gopal as on 14^th August, 2010.

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Ram gets Mohan’s acceptance for Rs. 12,000 discounted at 2 months at 12 % p.a. The amount of discount will be :

The correct option is A Rs. 240 Discount = Rs. 12,000∗12%∗212 = Rs. 240.

The correct option is A
Rs. 240

Discount
= Rs. $12, 000 * 12 % * \frac{2}{12}$ = Rs. 240.