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?
Answer: Option
Explanation:
| Required money | = P.W. of Rs. 10028 due 9 months hence | |||||||||||
|
||||||||||||
| = Rs. 9200. |
Discussion:
53 comments Page 1 of 6.
Shashi mishra said:
1 decade ago
Why 100 is added in denominator?
Gnana said:
1 decade ago
How answer comes 9200? I have tried in my calculator but it show me 3963. 63, How could this possible, please can any one post here.
Sundar said:
1 decade ago
@Gnana
It is simple yar.
1. 10028 x 100 = 1002800
2. 100 + (12 x 9/12) ; here 12 will get cancelled, So 100+9 = 109
3. 1002800/109 = 9200 thats all.
It is simple yar.
1. 10028 x 100 = 1002800
2. 100 + (12 x 9/12) ; here 12 will get cancelled, So 100+9 = 109
3. 1002800/109 = 9200 thats all.
Naveen said:
1 decade ago
You have done a good job. Superb and thanks.
Vidu said:
1 decade ago
How it s 9 months, please can anyone explain me ?
Mohan said:
1 decade ago
Trader wants to pay after 3 months. But Trader owes a merchant 1 year hence for Rs. 10028/-. Since trader wants to pay after 3 months he has minus the 9 months interest (i.e., 12-3 months) from 10028. So 9 will comes into the picture here... I hope u will understand now...
Anuj ojha said:
1 decade ago
Thanks for the explanation.
Nikhil said:
1 decade ago
Can anyone explain me meaning of this problem, I couldn't understand it properly?
Nitin Anuj said:
1 decade ago
I think its the wrong answer..
Actually we can't use the formula like that.
Using 9/12 we means that the interest is on the value 3 months hence. But according to the question value 10028 is due 1 yr hence .
So first P.W.=(100 x 10028)/(100+(12x1))
Then, Amount=(100+(12x3/12))/100
and that would be the answer which is not 9200.
Please comment.
Actually we can't use the formula like that.
Using 9/12 we means that the interest is on the value 3 months hence. But according to the question value 10028 is due 1 yr hence .
So first P.W.=(100 x 10028)/(100+(12x1))
Then, Amount=(100+(12x3/12))/100
and that would be the answer which is not 9200.
Please comment.
Devanshu chourasiya said:
1 decade ago
Trader wants to pay after 3 months. But Trader owes a merchant 1 year hence for Rs. 10028/-. Since trader wants to pay after 3 months he has minus the 9 months interest (i.e., 12-3 months) from 10028. So 9 will comes into the picture here. Good one.
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