EXPORT IMPORT CREDIT MCQs
1. Minimum andmaximum amount up to which the Gold Credit card can be issued to exporter is Rs
________ lac and Rs lac. : (a) 100,1000 (b) 50, 500 (c) 100, 5000
(d) 20,200 (e) None of these as it is based on anticipated turnover.**
2. Aspertheexchangecontrolregulations,thepaymentforexportsshouldingeneralberealizedwithina
periodof:(a) 12months fromdate of shipment** (b) 3months from date of shipment
(c) 6months fromthe date of shipment (d) 1month fromdate of shipment
(e) 45 days formdate of shipment
3. Units in a special economic zone are permitted to realise and repatriate to India the full export value of
goods or software within a period of......................................... from the date of shipment.
(a) 3months (b) 6months (c) 180 days (d) 360 days (e) none of these as there is no time limit*
4. In respectof shipmentsmade toIndianownedwarehouses abroad establishedwithpermissionof RBI,
export proceeds shouldbe realizedwithin:
(a) 6 months (b)3 months (c) 9 months (d)15 months* (e) 150 days
5. RBImonitorsoverdueexportbills-not realizedwithinthestipulatedtimeby calling for ahalf yearly
statement fromADs referredtoas : (a) BEF (b)XOS** (c) GTE-1 (d) ST-9 (e) ENC
6.Packing credit advances mean :
advances granted to industrial units for packing of manufactured goods for sale in Indiaadvances granted to eligible exporters for purchase/manufacture/processing/transporting/packing etc. of goods meant for export*
(c) advancesgrantedtoimporterstoenablethemtostoreandsubsequentlysellimportedgoodslocally
(d) any one or more of the above (e) none of the above.
7. To be eligible for packing credit advances the customer :
(a) should not be in the caution list of RBI or specific approval list of ECGC
(b) must be holding importer/exporter code number allotted byDGFT
(c) should be recognised export house (d) all above (e) both (a) and (b)**
8. Packing credit advances is normally allowed for :
(a) 90 days (b) 60 days (c) 360 days (d) 180 days (e) as per requirement of the exporter**
9. `Normal Transit Period ' in the context of export financemeans:
(a) the number of days the documents take to reach destination
(b) the gap between period taken by the ship and the documents to reach destination
(c) the number of days taken by a ship to complete a voyage
(d) the number of days fixed by FEDAI and is the average period normally involved from date of negotiation to credit to
NOSTRO account.**
(e) either (a)or (b)
10. For facilities grantedupto30.6.2010, rateof interestonpost shipment credit inrupeesupto180days in
respectofusancebills is :
(a) 12% (b) 15% (c) not exceeding BPLR
(d) not exceeding BPLR minus 2.5% (e) not exceeding BPLR plus 1.5%**
11. Refinance for export credit fromRBI is available for howmany days?
(a) 90 days . (b) 180 days** (c) 360 days (d) 270 days- (e) None of these
12. Refinance against eligible export finance is available from:
(a) RBI* (b) IDBI (c) ECGC (d) Exim Bank (e) None of these
13. On PCFC refinance is available to the extent of % of outstanding PCFC.
(a) 15% (b) 50% (c) 25% (d) Nil** (e) None of these
14. Forfacilitiesgrantedupto30.6.2010ConcessionalinterestrateonPostshipmentcreditinrupeesis
permittedupto:
(a) 180 days** (b) 90 days (c) 270 days (d) 360 days (e) None of these
15. Which of the following is not correct regarding Liberalised Remittance Scheme?
(a) Amount can be remitted for capital aswell as current account transactions
(b) Maximumamount that can be remitted in a financial year is restricted toUSD200,000
(c) Remittance for gift and donationwill bewithinUSD200,000 permitted under LRS
(d) Bank can allowadvance to a resident individual formaking remittance under this scheme**
(e) None of these
16_ For outward remittance formedical expenses, estimate fromthe doctor or hospital is required if the
remittance is more than USD : (a) 1 lac (b) 5 lac (c) 10 Lac (d) none of these as it is required in all cases
17. What is themaximumamount of inwardremittance that can bedone by a resident individual?
(a) USD 1 Lac (b) USD 5 lac (c) USD 10 Lac (d) None as there is no limit
*
18. How much amount can be released for remittance abroad for education on declaration basis and withou estimate
from educational institution?
(a) USD 1 Lac** (b) USD 5 lac (c) USD 10 Lac (d) None as there is no limit
19.Which of the following is true?
(a) If a bank has oversold position, Bankwill gain if the rate of foreign currency rises.
(b) If a bank has oversold position, Bankwill gain if the rate of foreign currency declines**
(c) If a bank has oversold position, Bankwill lose if the rate of foreign currency declines
(d) If a bank has overbought position, Bankwill gain if the rate of foreign currency declines
(e) None of these
20. ADsmay allowadvance remittance for import of goodswithout any ceiling.However, if the amount of
advance remittance exceedsUSD50,00,000 or its equivalent it ismandatory to obtain-
(a) unconditional irrevocable stand byUC of an international bank of repute situated outside India
(b) guarantee froman international bank of repute situated outside India(c) guarantee of anADinIndia, if such guaranteeis issuedagainst counter guarantee of aninternational
bankof reputesituatedoutside India
(d) any one of the above (e) either (a) or (b) only***
21. BEF statement containingdetailsof remittance exceedingUSD1,00,000where evidence of import is
not furnishedwithin6months fromdateof remittance is submittedby ADs toRBIon:
(a) monthlybasisby 10thof thefollowingmonth
(b) quarterlybasisby 15thof themonthfollowing closeofquarter
(c) half yearly basis forMarch/ September by 15th of succeedingmonth
(d) half yearly basis as of June/ December by 15th of succeedingmonth **(e) none of these
22. Crystallisation of import bill under UCmeans:
(a) bill is scrutinisedwhether it is as perUC terms or not
(b) it is ensured that currency of IJC and insurance is the same or not
(c) converting bill amount into Indian rupees and deciding customer's liability on due date in case of usance**
bill and on 10th day from date of receipt in case of demand bills.
(d) none of the above as the concept is gonewith the termination of PSCFC
23. ApplicationformakingpaymenttowardsimportsintoIndiahastobemadetoauthoriseddealersby
importersin:(a) ENC (b) R-3 (c) Form A-1 *(d) Form A-4 (e) none of the above
24. Advance remittance for import of goods into India is to be allowed after obtaining guarantee froman
international bank of repute situated outside India or guarantee of an AD in India against counter-guarantee of an
international bank when amount of advance remittance exceeds:
(a) US $ 10,000 (b) US $ 25,000 (c) US $5,000 (d) US $ 15,000 (e) US $ 50,00,000***
25. How much advance remittance is allowed for import of services without guarantee of a reputed
international bank?
(a) USD 1 Lac (b) USD 5 lac **(c) USD 10 Lac (d) None as there is no limit
26. Which of the following types of Bill of Lading is not acceptable by a bank under LC?
(a) On Board (b) Clean (c) Charter Party** (d) AN of these (e) None of these
27. Interest Subvention is available on rupee export credit at the rate of 2% for loan up to Rs
but
interest rate after subvention should not be less than 7%.
(a) Rs 3 lac (b) Rs 5 lakh (c) Rs 10 lakh (d) Rs 100 lakh (e) None of these**
-28. Interest rate charged by RBI on export refinance to banks is at the rate of :
(a) Bank Rate (b) Repo Rate** (c) Reverse Repo Rate (d) Base Rate (e) None of these
29. Export Refinance is provided by RBI at the rate of __________ % of eligible outstanding export credit?
(a) 15% **(b) 25% (c) 50% (d) 100% (e) None of these
30. R Return is submitted to RBI onwhich of the following dates of themonth?
(a) 7th and 2151 (b) 15th & last day **(c) 10th, 20th and last day (d) None of these
31.Overdue import demand bills and usance bills are crystalised onwhich dates?
(a)10thday&duedate **(b)15thdayand30thday (c)30thdayand60thday(d)10thdayand60thday(e)Noneofthese
132. Which of the following is incorrect regarding export declaration forms?
(a) GR formis usedfor declaration of exports other than by postwhere customoffice not linked to EDI
(b) ExportDeclaration formis not required to be submitted for exports up toUSD25000.
(c) Softex formis used for declaration of export of software in physical or electronic form.**
(d) None of these (e) All of these
33.. Presently rate of interest on pre-shipment credit in forex (PCFC) up to 180 days is not exceeding:
(a) 200 basis points above LIBOR ***(b) 100 basis points above LIBOR
(c) 150 basis points above LIBOR (d) 50 points above LIBOR (e) 350 basis points below LIBOR
34. As per current guidelines of RBI, for loans sanctioned up to 30.6.2010, rate of interest on pre-shipment credit in rupees up to
270 days should not exceed :
(a) Bank Rate plus 2.5% (b) BPLR plus 1.5% (c) BPLR minus 2.5%**
(d) Bank Rate minus 2.5% (e) lower of (a) and (b)
35. As per the exchange control regulations, the payment for exports should in general be realized within a period of:
(a) 12 months from date of shipment** (b) 360 days from date of packing of goods
(c) 180 days from the date of shipment (d) 270 days from date of shipment
(e) 180 days from the date of receipt of consignment by the buyer in foreign country
36. Which of the following is/are not true with regard to features of Gold Card Scheme for exporters:
(a) Only exporters whose accounts have been 'Standard' continuously for 3 years are eligible
(b) Gold Card holderswill be given preference is granting packing credit in foreign currency (PCFC)
(c) Time normfor disposal of fresh applications for credit under the schemewill be 25 days
(d) Gold Card for exporters will be issued for a period of 5 years (e) none of these**
EXPORTFINANCE
Case- STUDY
An exporter approaches the popular bank for pre-shipment loanwith estimated sales ofRs.100 lakh. The bank
sanctions a limit ofRs.50 lakh,with followingmargins: Pre-shipment loan on FOB value—25%; ForeignDemandBill -
10%; Foreign usance bilis—20%.
The firmgets an order forUSD50,000 (CIF) toAustralia.On 1.1.2011when theUSD/INRratewasRs.43.50 perUSD,
the firmapproached theBank for releasing pre-shipment loan (PCL),which is released.
On 31.3.2011, the firmsubmitted export documents, drawn on sight basis forUSD45,000 as full and final shipment.
The bank purchased the documents atRs.43.85, adjusted thePCL outstanding and credited the balance amount to the
firm's account, after recovering interest forNormalTransit Period (NTP). The documents were realized on
30.4.2011 after deduction of foreign bank charges of USD 450. The bank adjusted the outstanding post
shipment advance. against the bill. Bank charged interest for pre-shipment loan@7%up to 90 days and,@8%
over 90 days up to 180 days. For Post shipment credit, theBank charged interest@7%for demand bills and@7.5%
for usance (D/A) documents up to 90 days and@8.50%thereafter and on all over dues, interest@10%.
01 What is the amount that the Bank can allow as PCL to the exporter against the given export order,
considering the profit margin of 10% and insurance and freight cost of 12%?
a) Rs.2200000 b) Rs.1650000 c) R6.1485000 d) Rs.1291950
02What is the amount of post shipment advance that can be allowed by the Bank under foreign bills
purchased, for the bill submitted by the exporter?
a) Rs.19,80,000 b) Rs.17,75,925 c) Rs.19,73,250 d) Rs.21,92,500
03 What will be the period for which the Bank charges concessional interest on DP bills, from date of
purchase of the bill?
a) 90 days b) 25 days c) 31 days d) Up to date of realization
04 in the above case, when should the bill be crystallized (latest date), if the bill remains unrealized for
over two months, from the date of purchase-(ignore holidays)?
a) On 30.4.2011 b) On 24.4.2011 c) On 24.5.2011 d) On 31.5.2011
05 What rate of interest will be applicable for charging interest on the export bill at the time of realization,
for the days beyond Normal Due Date (NDD)?
a) 8% b) 7% c) 7.5% d) 10%
Ans. 1-d 2-c 3-b 4-c 5-d Explanations:
1. FOB value =
CIF Value i.e. 50000x43.5 = 2175000
Deduct Insurance & freight 12% of 2175000 = 261000
Balance = 1914000
Deduct profit margin 10% of 1914000 =191400
Balance = 1722600
Less Margin 25% = 430650
PCL = 1291950
2. 45000 x43.85=1973250
3. Concessional• rate will be charged for normal transit period of 25 days and there after overdue
interest will be charged.
4. Crystallisation will be done when the bill becomes overdue after 25 days of normal transit period. Date of
overdue will be 25.4.2011. if bill remains overdue, it will be crystalised within 30 days i.e. up to 24.5.2011.
5. Rate of interest will be 10%as the overdue interest is stated as 10%in the question.
1. Minimum andmaximum amount up to which the Gold Credit card can be issued to exporter is Rs
________ lac and Rs lac. : (a) 100,1000 (b) 50, 500 (c) 100, 5000
(d) 20,200 (e) None of these as it is based on anticipated turnover.**
2. Aspertheexchangecontrolregulations,thepaymentforexportsshouldingeneralberealizedwithina
periodof:(a) 12months fromdate of shipment** (b) 3months from date of shipment
(c) 6months fromthe date of shipment (d) 1month fromdate of shipment
(e) 45 days formdate of shipment
3. Units in a special economic zone are permitted to realise and repatriate to India the full export value of
goods or software within a period of......................................... from the date of shipment.
(a) 3months (b) 6months (c) 180 days (d) 360 days (e) none of these as there is no time limit*
4. In respectof shipmentsmade toIndianownedwarehouses abroad establishedwithpermissionof RBI,
export proceeds shouldbe realizedwithin:
(a) 6 months (b)3 months (c) 9 months (d)15 months* (e) 150 days
5. RBImonitorsoverdueexportbills-not realizedwithinthestipulatedtimeby calling for ahalf yearly
statement fromADs referredtoas : (a) BEF (b)XOS** (c) GTE-1 (d) ST-9 (e) ENC
6.Packing credit advances mean :
advances granted to industrial units for packing of manufactured goods for sale in Indiaadvances granted to eligible exporters for purchase/manufacture/processing/transporting/packing etc. of goods meant for export*
(c) advancesgrantedtoimporterstoenablethemtostoreandsubsequentlysellimportedgoodslocally
(d) any one or more of the above (e) none of the above.
7. To be eligible for packing credit advances the customer :
(a) should not be in the caution list of RBI or specific approval list of ECGC
(b) must be holding importer/exporter code number allotted byDGFT
(c) should be recognised export house (d) all above (e) both (a) and (b)**
8. Packing credit advances is normally allowed for :
(a) 90 days (b) 60 days (c) 360 days (d) 180 days (e) as per requirement of the exporter**
9. `Normal Transit Period ' in the context of export financemeans:
(a) the number of days the documents take to reach destination
(b) the gap between period taken by the ship and the documents to reach destination
(c) the number of days taken by a ship to complete a voyage
(d) the number of days fixed by FEDAI and is the average period normally involved from date of negotiation to credit to
NOSTRO account.**
(e) either (a)or (b)
10. For facilities grantedupto30.6.2010, rateof interestonpost shipment credit inrupeesupto180days in
respectofusancebills is :
(a) 12% (b) 15% (c) not exceeding BPLR
(d) not exceeding BPLR minus 2.5% (e) not exceeding BPLR plus 1.5%**
11. Refinance for export credit fromRBI is available for howmany days?
(a) 90 days . (b) 180 days** (c) 360 days (d) 270 days- (e) None of these
12. Refinance against eligible export finance is available from:
(a) RBI* (b) IDBI (c) ECGC (d) Exim Bank (e) None of these
13. On PCFC refinance is available to the extent of % of outstanding PCFC.
(a) 15% (b) 50% (c) 25% (d) Nil** (e) None of these
14. Forfacilitiesgrantedupto30.6.2010ConcessionalinterestrateonPostshipmentcreditinrupeesis
permittedupto:
(a) 180 days** (b) 90 days (c) 270 days (d) 360 days (e) None of these
15. Which of the following is not correct regarding Liberalised Remittance Scheme?
(a) Amount can be remitted for capital aswell as current account transactions
(b) Maximumamount that can be remitted in a financial year is restricted toUSD200,000
(c) Remittance for gift and donationwill bewithinUSD200,000 permitted under LRS
(d) Bank can allowadvance to a resident individual formaking remittance under this scheme**
(e) None of these
16_ For outward remittance formedical expenses, estimate fromthe doctor or hospital is required if the
remittance is more than USD : (a) 1 lac (b) 5 lac (c) 10 Lac (d) none of these as it is required in all cases
17. What is themaximumamount of inwardremittance that can bedone by a resident individual?
(a) USD 1 Lac (b) USD 5 lac (c) USD 10 Lac (d) None as there is no limit
*
18. How much amount can be released for remittance abroad for education on declaration basis and withou estimate
from educational institution?
(a) USD 1 Lac** (b) USD 5 lac (c) USD 10 Lac (d) None as there is no limit
19.Which of the following is true?
(a) If a bank has oversold position, Bankwill gain if the rate of foreign currency rises.
(b) If a bank has oversold position, Bankwill gain if the rate of foreign currency declines**
(c) If a bank has oversold position, Bankwill lose if the rate of foreign currency declines
(d) If a bank has overbought position, Bankwill gain if the rate of foreign currency declines
(e) None of these
20. ADsmay allowadvance remittance for import of goodswithout any ceiling.However, if the amount of
advance remittance exceedsUSD50,00,000 or its equivalent it ismandatory to obtain-
(a) unconditional irrevocable stand byUC of an international bank of repute situated outside India
(b) guarantee froman international bank of repute situated outside India(c) guarantee of anADinIndia, if such guaranteeis issuedagainst counter guarantee of aninternational
bankof reputesituatedoutside India
(d) any one of the above (e) either (a) or (b) only***
21. BEF statement containingdetailsof remittance exceedingUSD1,00,000where evidence of import is
not furnishedwithin6months fromdateof remittance is submittedby ADs toRBIon:
(a) monthlybasisby 10thof thefollowingmonth
(b) quarterlybasisby 15thof themonthfollowing closeofquarter
(c) half yearly basis forMarch/ September by 15th of succeedingmonth
(d) half yearly basis as of June/ December by 15th of succeedingmonth **(e) none of these
22. Crystallisation of import bill under UCmeans:
(a) bill is scrutinisedwhether it is as perUC terms or not
(b) it is ensured that currency of IJC and insurance is the same or not
(c) converting bill amount into Indian rupees and deciding customer's liability on due date in case of usance**
bill and on 10th day from date of receipt in case of demand bills.
(d) none of the above as the concept is gonewith the termination of PSCFC
23. ApplicationformakingpaymenttowardsimportsintoIndiahastobemadetoauthoriseddealersby
importersin:(a) ENC (b) R-3 (c) Form A-1 *(d) Form A-4 (e) none of the above
24. Advance remittance for import of goods into India is to be allowed after obtaining guarantee froman
international bank of repute situated outside India or guarantee of an AD in India against counter-guarantee of an
international bank when amount of advance remittance exceeds:
(a) US $ 10,000 (b) US $ 25,000 (c) US $5,000 (d) US $ 15,000 (e) US $ 50,00,000***
25. How much advance remittance is allowed for import of services without guarantee of a reputed
international bank?
(a) USD 1 Lac (b) USD 5 lac **(c) USD 10 Lac (d) None as there is no limit
26. Which of the following types of Bill of Lading is not acceptable by a bank under LC?
(a) On Board (b) Clean (c) Charter Party** (d) AN of these (e) None of these
27. Interest Subvention is available on rupee export credit at the rate of 2% for loan up to Rs
but
interest rate after subvention should not be less than 7%.
(a) Rs 3 lac (b) Rs 5 lakh (c) Rs 10 lakh (d) Rs 100 lakh (e) None of these**
-28. Interest rate charged by RBI on export refinance to banks is at the rate of :
(a) Bank Rate (b) Repo Rate** (c) Reverse Repo Rate (d) Base Rate (e) None of these
29. Export Refinance is provided by RBI at the rate of __________ % of eligible outstanding export credit?
(a) 15% **(b) 25% (c) 50% (d) 100% (e) None of these
30. R Return is submitted to RBI onwhich of the following dates of themonth?
(a) 7th and 2151 (b) 15th & last day **(c) 10th, 20th and last day (d) None of these
31.Overdue import demand bills and usance bills are crystalised onwhich dates?
(a)10thday&duedate **(b)15thdayand30thday (c)30thdayand60thday(d)10thdayand60thday(e)Noneofthese
132. Which of the following is incorrect regarding export declaration forms?
(a) GR formis usedfor declaration of exports other than by postwhere customoffice not linked to EDI
(b) ExportDeclaration formis not required to be submitted for exports up toUSD25000.
(c) Softex formis used for declaration of export of software in physical or electronic form.**
(d) None of these (e) All of these
33.. Presently rate of interest on pre-shipment credit in forex (PCFC) up to 180 days is not exceeding:
(a) 200 basis points above LIBOR ***(b) 100 basis points above LIBOR
(c) 150 basis points above LIBOR (d) 50 points above LIBOR (e) 350 basis points below LIBOR
34. As per current guidelines of RBI, for loans sanctioned up to 30.6.2010, rate of interest on pre-shipment credit in rupees up to
270 days should not exceed :
(a) Bank Rate plus 2.5% (b) BPLR plus 1.5% (c) BPLR minus 2.5%**
(d) Bank Rate minus 2.5% (e) lower of (a) and (b)
35. As per the exchange control regulations, the payment for exports should in general be realized within a period of:
(a) 12 months from date of shipment** (b) 360 days from date of packing of goods
(c) 180 days from the date of shipment (d) 270 days from date of shipment
(e) 180 days from the date of receipt of consignment by the buyer in foreign country
36. Which of the following is/are not true with regard to features of Gold Card Scheme for exporters:
(a) Only exporters whose accounts have been 'Standard' continuously for 3 years are eligible
(b) Gold Card holderswill be given preference is granting packing credit in foreign currency (PCFC)
(c) Time normfor disposal of fresh applications for credit under the schemewill be 25 days
(d) Gold Card for exporters will be issued for a period of 5 years (e) none of these**
EXPORTFINANCE
Case- STUDY
An exporter approaches the popular bank for pre-shipment loanwith estimated sales ofRs.100 lakh. The bank
sanctions a limit ofRs.50 lakh,with followingmargins: Pre-shipment loan on FOB value—25%; ForeignDemandBill -
10%; Foreign usance bilis—20%.
The firmgets an order forUSD50,000 (CIF) toAustralia.On 1.1.2011when theUSD/INRratewasRs.43.50 perUSD,
the firmapproached theBank for releasing pre-shipment loan (PCL),which is released.
On 31.3.2011, the firmsubmitted export documents, drawn on sight basis forUSD45,000 as full and final shipment.
The bank purchased the documents atRs.43.85, adjusted thePCL outstanding and credited the balance amount to the
firm's account, after recovering interest forNormalTransit Period (NTP). The documents were realized on
30.4.2011 after deduction of foreign bank charges of USD 450. The bank adjusted the outstanding post
shipment advance. against the bill. Bank charged interest for pre-shipment loan@7%up to 90 days and,@8%
over 90 days up to 180 days. For Post shipment credit, theBank charged interest@7%for demand bills and@7.5%
for usance (D/A) documents up to 90 days and@8.50%thereafter and on all over dues, interest@10%.
01 What is the amount that the Bank can allow as PCL to the exporter against the given export order,
considering the profit margin of 10% and insurance and freight cost of 12%?
a) Rs.2200000 b) Rs.1650000 c) R6.1485000 d) Rs.1291950
02What is the amount of post shipment advance that can be allowed by the Bank under foreign bills
purchased, for the bill submitted by the exporter?
a) Rs.19,80,000 b) Rs.17,75,925 c) Rs.19,73,250 d) Rs.21,92,500
03 What will be the period for which the Bank charges concessional interest on DP bills, from date of
purchase of the bill?
a) 90 days b) 25 days c) 31 days d) Up to date of realization
04 in the above case, when should the bill be crystallized (latest date), if the bill remains unrealized for
over two months, from the date of purchase-(ignore holidays)?
a) On 30.4.2011 b) On 24.4.2011 c) On 24.5.2011 d) On 31.5.2011
05 What rate of interest will be applicable for charging interest on the export bill at the time of realization,
for the days beyond Normal Due Date (NDD)?
a) 8% b) 7% c) 7.5% d) 10%
Ans. 1-d 2-c 3-b 4-c 5-d Explanations:
1. FOB value =
CIF Value i.e. 50000x43.5 = 2175000
Deduct Insurance & freight 12% of 2175000 = 261000
Balance = 1914000
Deduct profit margin 10% of 1914000 =191400
Balance = 1722600
Less Margin 25% = 430650
PCL = 1291950
2. 45000 x43.85=1973250
3. Concessional• rate will be charged for normal transit period of 25 days and there after overdue
interest will be charged.
4. Crystallisation will be done when the bill becomes overdue after 25 days of normal transit period. Date of
overdue will be 25.4.2011. if bill remains overdue, it will be crystalised within 30 days i.e. up to 24.5.2011.
5. Rate of interest will be 10%as the overdue interest is stated as 10%in the question.
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