A supply priced at ₹ 10,000 is made, with a credit period of 1 month for payment. Thereafter interest of 12% is charged. The payment is received after the lapse of three months from the date of supply. The amount of 12% p.a. (i.e. 1 % per month) on ₹ 10,000 for two months after the free credit period is ₹ 300. Such interest will be to the value.
A. Added
B. Deducted
C. Added at 50%
D. None of the above
Answer:A
A supply priced at ₹ 10,000 is made, with a credit period of 1 month for payment. Thereafter interest of 12% is charged. The payment is received after the lapse of three months from the date of supply. The amount of 12% p.a. (i.e. 1 % per month) on ₹ 10,000 for two months after the free credit period is ₹ 300. Such interest will be to the value.
A. Added B. Deducted C. Added at 50% D. None of the above