Liberalisation in credit policy raises the average size of receivables by Rs 30,000 and the operating profits by Rs 15,000. Tax rate is 30% and required rate of return is 12%. Do you suggest...

Liberalisation in credit policy raises the average size of receivables by Rs 30,000 and the operating profits by Rs 15,000. Tax rate is 30% and required rate of return is 12%. Do you suggest liberalisation of the credit policy?

If the size of outstanding receivables is Rs 15,000 in 0–30 days class, Rs 12,000 in 31–60 days class and Rs 8,000 in 61–90 days class, find the average age of receivables.