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DEVALYA LEARNING SOLUTIONS LLP

RAJPAL SINGH

CA Foundation Accounts Test – Average Due Date Max. Marks – 20

Time: 30 Minutes

Ques. 1 The following amounts are due to X by Y. Y wants B to pay on 10th July,2019. Interest rate of 9% p.a. is taken into consideration.

` 10th January 750 26th January (Republic Day) 1,200 23rd March 3,300 18th August (Sunday) 4,100 th Determine average due date and the amount to be paid on 10 July, 2019. Assume 10th January as base date (5 Marks) Due dates

Ques. 2 Mehnaaz accepted the following bills drawn by Shehnaaz. On 8th March, 2018 ` 4,000 for 4 months. On 16th March, 2018 ` 5,000 for 3 months. On 7th April, 2018 ` 6,000 for 5 months. On 17th May, 2018 ` 5,000 for 3 months. He wants to pay all the bills on a single day. Find out this date. Interest is charged @ 18% p.a. and Mehnaaz wants to save ` 157 by way of interest. Calculate the date on which he has to effect the (5 Marks) payment to save interest of ` 157. Ques. 3 Kiran had accepted bills payable to Heena, falling due on different dates. The details of bills are as follows: Date of bill

Amount

Usance of bill

9th April 2018

` 3,000 ` 5,500

for 4 months

` 3,000 ` 6,000

for 6 months

18th April 2018 25th May 2018 5th June 2018

for 3 months for 3 months

On 1 st July, it was agreed that these bills should be withdrawn and that Kiran should accept on that day two bills, one for ` 10,000 due in 4 months and the other for the balance with interest, due in 6 months. Calculate the amount of the second bill taking interest @ 10% p.a. Take 365 days in year 2018 -2019. (5 Marks)

DEVALYA LEARNING SOLUTIONS LLP

RAJPAL SINGH

Ques. 4 From the following details calculate average due date: Date of Bill 28th January, 2020

Amount (`) 2,500

Usance of Bill 1 month

20th March, 2020

2,000

2 months

th

3,500 3,000

1 month 2 months ( 5 Marks )

12 July, 2020 10 th August, 2020...