Q:
A bill falls due in 1 year.The creditor agrees to accept immediate payment of the half and to defer the payment of the other half for 2 years.By this arrangement ins Rs.40.what is the amount of the bill,if he money be worth 12.5%?
Answer & Explanation
Answer: C) 3600
Explanation: Let the sum be Rs. x. Then,
(x/2)+(2x/5)-(8x/9) = 40
x=3600.
Therfore, amount of bill=Rs. 3600.
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