A bill of exchange dated 1 May 2022 is payable 3 months after date. Counting three days of grace, what is its date of maturity?
Answer and explanation
Correct answer: B. 4 August 2022
- Step 1: 3 months after 1 May 2022 is 1 August 2022.
- Step 2: Adding 3 days of grace gives 4 August 2022.
Answer
4 August 2022.
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