self Maths Puzzle

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

Read Solution (Total 2)

The trader has to pay Today:
Rs.(10,028/112)*100 =Rs.8,954
Now, he wants to settle it after 3 months
(8954)+8954*(12/100)*3/12=9222.62Approx
So answer is B: 9200
12 years agoHelpfull: Yes(4) No(10)

amount=10028*100/100+(12*9/12)
=10028*100/109
=9200
8 years agoHelpfull: Yes(0) No(0)

self Other Question

A man purchased a cow for Rs. 3000 and sold it the same day for Rs. 3600, allowing the buyer a credit of 2 years. If the rate of interest be 10% per annum, then the man has a gain of:

A. 0% B. 5%
C. 7.5% D. 10%
A man wants to sell his scooter. There are two offers, one at Rs. 12,000 cash and the other a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum. Which is the better offer?

A. Rs. 12,000 in cash B. s. 12,880 at credit
C. Both are equally good D. [NIL]
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