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Discussion :: True Discount

  1. 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?

    2. A.

    Rs. 9025.20
    B.

    Rs. 9200
    C.

    Rs. 9600
    D.

    Rs. 9560

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    Answer : Option B

    Explanation :

     

    =Rs[10028∗100100+(12∗9/12)]

     

    Required money = P.W. of Rs. 10028 due 9 months hence

     

     = 9200

     

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