{"id":49403,"date":"2024-04-15T22:55:15","date_gmt":"2024-04-15T22:55:15","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=49403"},"modified":"2024-04-15T22:55:15","modified_gmt":"2024-04-15T22:55:15","slug":"on-1st-january-2012-x-drawn-of-rs-20000-on-y-for-three-months-x-discounted-the-bill-with-bank-for-rs-19900-on-due-date-the-bill-was-dishonoured-for-dishonour-in-the-books-of-x-bank-account-wi","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/on-1st-january-2012-x-drawn-of-rs-20000-on-y-for-three-months-x-discounted-the-bill-with-bank-for-rs-19900-on-due-date-the-bill-was-dishonoured-for-dishonour-in-the-books-of-x-bank-account-wi\/","title":{"rendered":"On 1st January 2012 X drawn of Rs. 20,000 on Y for three months. X discounted the bill with bank for Rs. 19,900. On due date, the bill was dishonoured. For dishonour in the books of X. Bank account will be credited by"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 19,900&#8243; option2=&#8221;Rs. 20,000&#8243; option3=&#8221;Rs. 20,100&#8243; option4=&#8221;Rs. 19,800&#8243; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is A. Rs. 19,900.<\/p>\n<p>When a bill is discounted with a bank, the bank pays the drawer the face value of the bill less a discount. The discount is calculated based on the interest rate and the time until the bill matures. In this case, the face value of the bill is Rs. 20,000 and the discount is Rs. 100. Therefore, the bank pays X Rs. 19,900.<\/p>\n<p>When a bill is dishonoured, the drawer must pay the bank the amount of the bill plus any interest and fees that have accrued. In this case, X must pay the bank Rs. 20,000. However, X has already received Rs. 19,900 from the bank when the bill was discounted. Therefore, X&#8217;s bank account will be credited with Rs. 19,900.<\/p>\n<p>Option B is incorrect because it is the face value of the bill. Option C is incorrect because it is the face value of the bill plus the discount. Option D is incorrect because it is the face value of the bill minus the discount.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 19,900&#8243; option2=&#8221;Rs. 20,000&#8243; option3=&#8221;Rs. 20,100&#8243; option4=&#8221;Rs. 19,800&#8243; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-49403","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>On 1st January 2012 X drawn of Rs. 20,000 on Y for three months. X discounted the bill with bank for Rs. 19,900. On due date, the bill was dishonoured. For dishonour in the books of X. Bank account will be credited by<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/on-1st-january-2012-x-drawn-of-rs-20000-on-y-for-three-months-x-discounted-the-bill-with-bank-for-rs-19900-on-due-date-the-bill-was-dishonoured-for-dishonour-in-the-books-of-x-bank-account-wi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"On 1st January 2012 X drawn of Rs. 20,000 on Y for three months. X discounted the bill with bank for Rs. 19,900. On due date, the bill was dishonoured. For dishonour in the books of X. Bank account will be credited by\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Rs. 19,900&#8243; option2=&#8221;Rs. 20,000&#8243; option3=&#8221;Rs. 20,100&#8243; option4=&#8221;Rs. 19,800&#8243; correct=&#8221;option1&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/on-1st-january-2012-x-drawn-of-rs-20000-on-y-for-three-months-x-discounted-the-bill-with-bank-for-rs-19900-on-due-date-the-bill-was-dishonoured-for-dishonour-in-the-books-of-x-bank-account-wi\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T22:55:15+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"On 1st January 2012 X drawn of Rs. 20,000 on Y for three months. X discounted the bill with bank for Rs. 19,900. On due date, the bill was dishonoured. For dishonour in the books of X. Bank account will be credited by","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/on-1st-january-2012-x-drawn-of-rs-20000-on-y-for-three-months-x-discounted-the-bill-with-bank-for-rs-19900-on-due-date-the-bill-was-dishonoured-for-dishonour-in-the-books-of-x-bank-account-wi\/","og_locale":"en_US","og_type":"article","og_title":"On 1st January 2012 X drawn of Rs. 20,000 on Y for three months. X discounted the bill with bank for Rs. 19,900. On due date, the bill was dishonoured. For dishonour in the books of X. Bank account will be credited by","og_description":"[amp_mcq option1=&#8221;Rs. 19,900&#8243; option2=&#8221;Rs. 20,000&#8243; option3=&#8221;Rs. 20,100&#8243; option4=&#8221;Rs. 19,800&#8243; correct=&#8221;option1&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/on-1st-january-2012-x-drawn-of-rs-20000-on-y-for-three-months-x-discounted-the-bill-with-bank-for-rs-19900-on-due-date-the-bill-was-dishonoured-for-dishonour-in-the-books-of-x-bank-account-wi\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T22:55:15+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/on-1st-january-2012-x-drawn-of-rs-20000-on-y-for-three-months-x-discounted-the-bill-with-bank-for-rs-19900-on-due-date-the-bill-was-dishonoured-for-dishonour-in-the-books-of-x-bank-account-wi\/","url":"https:\/\/exam.pscnotes.com\/mcq\/on-1st-january-2012-x-drawn-of-rs-20000-on-y-for-three-months-x-discounted-the-bill-with-bank-for-rs-19900-on-due-date-the-bill-was-dishonoured-for-dishonour-in-the-books-of-x-bank-account-wi\/","name":"On 1st January 2012 X drawn of Rs. 20,000 on Y for three months. 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