If total sales are Rs. 1,00,000 cash sales included in total sales Rs. 20,000, sales back Rs. 7,000. Total debtors for sale as on 31^st March, 1993 Rs. 9,000, and bills receivable as on 31^st March, 1993 is only Rs. 2,000. The average payout period would be for the year 1992 - 93.

Here Corrected Question would be Average collection period.

Solution:
Net Sales= Total Sales-Cash Sales Included-Sales Return
=100,000-20,000-7,000
=73,000

Average Collection Period= 365* (Average Accounts Receivables/Net Sales)
here Given Total debtors 9,000 & bills receivables 2,000

Average Receivables=9,000+2,000
=11,000
Now Average Collection Period= 365*(11,000/73,000)
= 55 Days