A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?
A.Rs. 9025.20
B.Rs. 9200
C.Rs. 9600
D.Rs. 9560
Answer:B
A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?
A.Rs. 9025.20 B.Rs. 9200 C.Rs. 9600 D.Rs. 9560