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 2 of 6.
Madhu said:
1 decade ago
Rs. 10028/- has to be paid after 1 year including interest 12% P.A.
Present worth = 10028*100/112=8953.57
But he wants to pay after 3 months with interest 12% P.A
Interest = 8953.57*(12/100*(3/12)
= 268.60
Total Amount to be paid after 3 months = Present worth + 3 Months Interest.
i.e. 8953.57+268.60
= 9222.17
I got this Ans. Pls any body can help me on this.
Present worth = 10028*100/112=8953.57
But he wants to pay after 3 months with interest 12% P.A
Interest = 8953.57*(12/100*(3/12)
= 268.60
Total Amount to be paid after 3 months = Present worth + 3 Months Interest.
i.e. 8953.57+268.60
= 9222.17
I got this Ans. Pls any body can help me on this.
(1)
David said:
1 decade ago
What Madhu said makes sense to me? Please elaborate.
Rajee said:
1 decade ago
Question must be like this he settle before 3 month...so we have calcutate 9 month intrest....
10028=intrest +pw( one year)......(1)
intrest=pw.9/12.12/100=9pw/100
So
10028=9pw/100+pw from 1
so pw=9200
10028=intrest +pw( one year)......(1)
intrest=pw.9/12.12/100=9pw/100
So
10028=9pw/100+pw from 1
so pw=9200
Garima said:
1 decade ago
What is PW?
Prash said:
1 decade ago
I've also calculated same as Madhu..
Prashant said:
1 decade ago
In this question if we are taking money.that mean u have to pay for whole period and in this question he paid s.i. monthly.so he want to settle after 3 months....remaining month is 9.it means he will pay for 9 month completely.
10028-x=(x*12*(9/12))/100;
the value of x=9200
am i correct?
10028-x=(x*12*(9/12))/100;
the value of x=9200
am i correct?
Sankar said:
1 decade ago
What @Rajee has said absolutely correct, the question the trader wants to settle the account after 3 months means he retained the amount with him for 3 months and then settled so he should pay 3 months interest not 9 months. So after must replace with before if we take 9 months into consideration.
Pooja said:
1 decade ago
9/12 is in terms of years whereas 12 is in terms of months then why in the solution multiplication is performed between values with different units? how is it possible?
It is (9*12) or (1*9/12).
It is (9*12) or (1*9/12).
Jayadeep said:
1 decade ago
A trader owes a merchant Rs. 10,028 due 1 year hence. Can anyone explain me the meaning?
Rucha said:
1 decade ago
In short it means he has taken some money on loan for which he has to pay Rs. 10028 after 1 year.
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