Q:
A trader owes a maerchant Rs10028 due 1yr hence The trader wants to settle the account after 3 months .If the rate of interest is 12%per annum How much cash should he pay?
Answer & Explanation
Answer: C) Rs.9200
Explanation: Required Money = P.W of Rs. 10028 due 9 months hence
= Rs.[10028 x 100] / [100+(12 x 9/12)] =Rs.9200
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