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The Negotiable Instruments Act, 1881

Corporate & Other Laws

Sir, In the attached question of MTP 1 of May 2022, how the rate of interest in answer is 6%?

Rinuja TK

CA Inter

★ 10K+

19-Apr-22 01:13

174

Answers (4)

He is in Washingtonâ?¦which is outside of India so 6% rate is applicableâ?¦.if this case is on drawer then 15% rate will be applicable

Rushiraj Dahiphale

CA Inter

★ 34K+

19-Apr-22 09:26

Question states the rate in Washington is 6% Though A is drawer B is liable to pay the interest and he is from washington

Sudha Reddy

CA Final

★ 20K+

19-Apr-22 10:53

See new module page 2.22 youâ??ll get clear idea same example on 2.22

Rushiraj Dahiphale

CA Inter

★ 34K+

19-Apr-22 11:16

Thankyou

Thread Starter

Rinuja TK

CA Inter

★ 10K+

20-Apr-22 19:25

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