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Cpt topic-bills of exchange
A draws a bill on Y of Rs150000. At maturity, the bill returned dishonoured , noting charges Rs. 1500. 40 paisa in a rupee is recovered from B's estate. The amount of deficiency to be recorded on insolvency in the books of B would be:
A. 60600
B. 90900
c. 58400
D. 57000
Replies (7)
60% of (150000+1500) i.e. 90900
I have assumed its " A draws a bill on B"
Thank you for your help!
I want to know the logic behind taking 60%.
I want to know the logic behind taking 60%..please explain it!
Only 40 paisa in a rupee is recoverable which means if his liability is of re 1 then he can repay only 40 paise and there is deficiency of 60 paise. So if liability is of 151500 then deficiency is (151500*0.6) i.e. 60% of 151500
Ok
Thank you soo much!!
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