Discussion :: True Discount
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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?
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Answer : Option B
Explanation :
=Rs\([\frac { 100 28*100} { 100+(12*9/12) } ]\)
| Required money | = P.W. of Rs. 10028 due 9 months hence |
= 9200
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