Question

    A’s acceptance to B for Rs. 5,000 is discharged by a

    cash payment of Rs.3000 and a new bill is drawn for the balance plus Rs.100 for interest. The amount of the new bill will be Rs.    
    A 2000 Correct Answer Incorrect Answer
    B 1900 Correct Answer Incorrect Answer
    C 2100 Correct Answer Incorrect Answer
    D None of the above. Correct Answer Incorrect Answer

    Solution

    Total amount of the old bill = Rs. 5,000 Amount paid in cash = Rs. 3,000 Amount due = Rs. 2,000 Interest on renewable = Rs. 100 So the amount of the new bill = 2000 + 100 = Rs. 2100    

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