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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?
A.
Rs.9000
B.
Rs.9002
C.
Rs.9200
D.
Rs.9120
View Answer
Correct choice: C
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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