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 is 12% per annum, how much cash should he pay?
A. Rs.9025.20B. Rs.9200C. Rs.9600D. Rs.9560
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 is 12% per annum, how much cash should he pay?
A. Rs.9025.20B. Rs.9200C. Rs.9600D. Rs.9560