Bills of exchange

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Savithry

Student

65 Points Joined March 2019

A draws a bill on B for ₹4500 for mutual accommodation in the ratio 2:1.A got it discounted at ₹4230 and remitted 1/3rd of the proceeds to B.At the time of maturity,how much amount A should remit to B such that B can pay off the bill?

Ans for this problem is 3000

Can anyone plz explain me this problem ?

Replies (1)

satish

teaching

2046 Points Joined February 2009

benefit of bill shared by both the parties in 2:1. so discount amount also to be shared by both the parties in the same ratio.
i.e A enjoyed the benefit of 2/3 of 4500. so on maturity he has the obligation for his share of total bill. i.e. 3,000.