Mr. Neutral purchased goods from Mr. Positive on two month’s credit. The purchases were made on the following dates
: ~
(a) 3rd March, 2014 750
(b) 13th April, 2014 500
(c) 8th May, 2014 700
(d) 5th June, 2014 1,000
(e) 20th July, 2014 600
He wishes to pay the total amount of ~ 3,550 on the basis of average due date.
(i) Find out average due date.
(ii) If he desires to make the whole payment on 22nd September, 2014, what will be the amount of interest @ 10% p.a.?