Question

$X$ draws a bill on $Y$ for $Rs.30,000$ on $\mathrm{1.1.2019.}X$ accepts the same on $\mathrm{4.1.2019}$ for period of $3$ months after date. What will be the maturity date of the bill : __________.

• A. $\mathrm{4.4.2019}$
• B. $\mathrm{3.4.2019}$
• C. $\mathrm{7.4.2019}$
• D. $\mathrm{8.4.2019}$

Answer 1

The correct option is B $\mathrm{3.4.2019}$

$3$ months from $\mathrm{1.1.2019}$ ends on $31stMarch2019+3$ grace days; hence date of maturity $\mathrm{3.4.2019}$ (When period of bill is stated in months, calculation will be in months ignoring the days in months).