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: Option B
Solution(By Examveda Team)
$$\eqalign{ & {\text{Required}}\,{\text{Money}} \cr & {\text{ = }}\,{\text{P}}{\text{.W}}{\text{.}}\,{\text{of}}\,{\text{Rs}}{\text{.}}\,{\text{10028}}\,{\text{due}}\,{\text{9}}\,{\text{months}}\,{\text{hence}} \cr & = Rs.\,\left[ {\frac{{10028 \times 100}}{{100 + \left( {12 \times \frac{9}{{12}}} \right)}}} \right] \cr & = Rs.\,9200 \cr} $$Related Questions on True Discount
The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:
A. 12%
B. 13%
C. 15%
D. 14%
A. Rs. 9025.20
B. Rs. 9200
C. Rs. 9600
D. Rs. 9560
A. Rs. 12,000 in cash
B. Rs. 12,880 at credit
C. Both are equally good
D. Rs. 18.33
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