Aptitude - True Discount - Discussion

Discussion Forum : True Discount - General Questions (Q.No. 3)
3.
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?
Rs. 9025.20
Rs. 9200
Rs. 9600
Rs. 9560
Answer: Option
Explanation:
Required money = P.W. of Rs. 10028 due 9 months hence
= Rs. 10028 x 100
 100 + 12 x 9 12
= Rs. 9200.
Discussion:
53 comments Page 1 of 6.

Nandu said:   1 year ago
What is the correct answer?

Anyone, please explain.

Yoobsan Tolasa said:   2 years ago
Amount = pw +(pw * r * t).
10028 = pw + pw (12*9)/100 * 12,
10028 = 109*pw/100.
Pw = 9200.
(2)

Fentahun Asre said:   3 years ago
Please try to prove the formula for P.W.

Tanav said:   3 years ago
The trader buys something at a credit of 12008 Rupees which he has to pay after 1 year. But, he wants to pay the amount after 3 months rather than the whole year. So, we find the present worth of the money at the end of 3 months, on which 9 months of interest will be equal to the sum due, i.e., 12008 rupees.

Using the formula,
Sum due * 100/100+(R+T)
= 12008 * 100/100+(12 * 9/12)
= 9200 Rupees.

Correct me, if I am wrong.
(6)

Charan said:   4 years ago
It is like this.

Actually, interest was put for whole 1 year (starting from January).
But he tells that, he will pay after 3 months (starting from April).

Meaning he is going to start to pay interest from 3rd month to 12th month, that means only 9 months.
(6)

Vishnu vardhan reddy said:   4 years ago
@Ayushi Garkoti.

Why do you take a time period of 9 months? Please explain.
(1)

Ayushi Garkoti said:   4 years ago
Just use a simple formula- SI= P*R*t/100 , ans easily solve the question.

Given,
Amount = 10028 i.e, P+S.I.
10028 = P+ S.I or S.I= 10028- P.
10028 - P = {P*12*(9/12)}/100,
1002800 = 109P,
P= 9200.
(9)

Aishu said:   4 years ago
@Plasi.

Your explanation is clear. Thank you so much.
(2)

Plasi said:   4 years ago
@All.

We need to find out an amount of money(SAY, X) that will generate 10028 in 9 months (remember, originally 10028 was due in 12 months, now it is due in 9 months).

So basically,
10028 = X + (X*R*T)/100,
10028= X + (X* 12* 9/12)/100,
10028= X + (X*9)/100 as 12 gets cancelled,
10028= (100X+9X)/100,
10028*100 = 109x.
X= (10028 * 100)/109 = 9200.
(1)

Anonymous said:   5 years ago
Please understand the basic concept, in question, they asked about the present worth.

So, and we know 10028 is the money after one year of something present worth so to calculate after 3 months which means. Whatever the present worth it should have to reach eqaul to 10028 after the 9 month.

Suppose if he asked after the 9 month then meaning of question will be, you have to calculate money which should have to reach 10288 after three months.
(1)

Post your comments here:

Your comments will be displayed after verification.