Question
Which of the following types of documentary credit
allows the beneficiary (exporter) to receive payment even if the documents do not comply with the exact terms of the credit?Solution
A revocable letter of credit allows the terms and conditions to be modified or canceled by the importer (buyer) or issuing bank without the beneficiary's consent. This can result in the exporter being paid even if the documents do not fully comply with the letter of credit terms, as long as the changes are acceptable to the involved parties.
Ms. Neha and Ms. Tara launched a startup with a total investment of Rs. ‘x’. Neha's share in the initial investment was 45%, and Tara invested the r...
- Person 'A' invests Rs. 'y' in a business, while person 'B' contributes Rs. (y + 400). After a duration of 2 years, A's profit is 1/6 less than B's profit. ...
‘A’ started a business by investing Rs. 2000. Three months later, ‘B’ joined by investing Rs. ‘x’. If at the end of the year ‘B’ receive...
A man invested a certain amount in two schemes, A and B, in the ratio 3:2. Scheme A offers 12% annual simple interest, and Scheme B offers 10% annual si...
Ashish started a business by investing Rs. 1400. Few months later; Ramesh joined him by investing Rs. 1600 such that at the end of the year, the profit ...
P and Q started a business by investing Rs.8000 and Rs.6400 respectively. After 6 months, Q increased his investment by a certain percentage such that a...
Nihit starts a business with Rs.700. After 5 months Amit and Patel joined him with Rs 300 and Rs400 respectively. At the end of the year, the business g...
- Amit and Sumit jointly invested Rs. 4200 and Rs. 2800 in a startup. If the total annual profit is Rs. 9800, what is the difference between their shares of ...
M and N invested Rs. 6400 and Rs. 5000, respectively, when they first started their businesses. After a year, N increased his investment by 40% while M ...
X, Y and Z started a business with initial investments of Rs. 5,000, Rs. 7,000 and Rs. 13,000 respectively. After one year, they made additional investm...
