Mathematics · Bills of Exchange
Ajay draws a bill on Vinay for ₹ 60,000. Vinay accepts it. Ajay endorses it to Chintu in full settlement of a debt of ₹ 70,000 at a 2% discount, with the balance paid in cash. The bill is dishonored on the due date. Calculate the amount by which Vinay/Ajay's account is to be debited to restore the original debt liability in the books of Chintu.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹ 70,000✓
- 2₹ 68,600
- 3₹ 60,000
- 4₹ 61,400
Correct answer
₹ 70,000
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