Question:
A bill of INR 18,000 was discounted for INR 17,568 at a bank on 25th October 2017. If the rate of interest was 12% p.a. what is the legal due date?
A bill of INR 18,000 was discounted for INR 17,568 at a bank on 25th October 2017. If the rate of interest was 12% p.a. what is the legal due date?
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The "legal due date" is found by adding 3 grace days to the "nominal due date". Always remember this final step after calculating the period.
Updated On: Sep 25, 2025
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