Solve the accounting problem?

Question

x draws bill on y for RS 4500 for mutual accomodation in the ratio 2:1 .x got it discounted at 4230 & remitted 1/3rd proceed

to y.at the time of maturity how much amount x should remit

to y such that y can pay off the bill ?

Answer 1

X will give Y Rs. 3,000 to pay the bill.

At the time of discounting the bill, X got Rs. 2820 and Y got Rs. 1410. The discount amount of Rs. 270 should also be shared between the X and Y into 2:1 ratio i.e. Rs. 180 and Rs. 90.

Therefore, Rs. 2820 + Rs. 180 = Rs. 3000 should be given to Y to honour the bill.

In all such cases, just multiply the share of X with the total amount i.e. Rs. 4,500 X 2/3 = Rs. 3,000.