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.
Amit Ambadkar said:
8 years ago
Present worth = not given.
p.w + t.d = 10028 given --> 1
td=p.w*n*r/100;
From above find p.w first
i.e, t.d=p.w*1*12/100 --> (2)
t.d=0.12p.w; put in (1).
p.w=8953.57.
Now from p.w find t.d for 3 months which is 268.605 --> formula given in(2))
Amount should pay = total=p.w+t.d for 3 month.
= 8953.571+268.805 = 9222.17.
p.w + t.d = 10028 given --> 1
td=p.w*n*r/100;
From above find p.w first
i.e, t.d=p.w*1*12/100 --> (2)
t.d=0.12p.w; put in (1).
p.w=8953.57.
Now from p.w find t.d for 3 months which is 268.605 --> formula given in(2))
Amount should pay = total=p.w+t.d for 3 month.
= 8953.571+268.805 = 9222.17.
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.
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?
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...
Charan said:
5 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.
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.
(9)
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.
(1)
Prabal Sinha said:
6 years ago
Just by basics:
Principle + 12%of principle for 1 year = 10028,
P{1+3/25}=10028,
28/25P=10028.
P = 8953.57.
Now we need to put interest for 3 months or 1/4th year.
8953.57 + (1/4)*(12/100) * 8953.57.
= 8953.57 + 268.60,
= 9222.17.
Principle + 12%of principle for 1 year = 10028,
P{1+3/25}=10028,
28/25P=10028.
P = 8953.57.
Now we need to put interest for 3 months or 1/4th year.
8953.57 + (1/4)*(12/100) * 8953.57.
= 8953.57 + 268.60,
= 9222.17.
(2)
Vishwajeet said:
1 decade ago
10028 = p+prt/100 = p+12p/100 = 112p/100.
=> p = 10028*100/112 = 8953.57.
Now for 3 months.
Amount = p+prt/100 = p+3p/100 = 103p/100.
Therefore, amount = 103*8953.57/100 = 9222.17.
Only solution!
B>is Round Off.
=> p = 10028*100/112 = 8953.57.
Now for 3 months.
Amount = p+prt/100 = p+3p/100 = 103p/100.
Therefore, amount = 103*8953.57/100 = 9222.17.
Only solution!
B>is Round Off.
Shivangi said:
1 decade ago
In previous formula what amount should be considered as amount specified in it? amount adding true discount or present worth.
It is not about this example specifically in general for all problems. Can anyone help me?
It is not about this example specifically in general for all problems. Can anyone help me?
Shibam Gupta said:
10 years ago
I got the answer as 9222 and I think if you go conceptually then it is right. Because if you pay interest, then you pay it on the actual principal and not from the amount where interest is already included.
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