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 4 of 6.
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?
Neha said:
1 decade ago
I didn't understand the formula for P.W. Please help.
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.
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.
Gopikrishna said:
10 years ago
1. P.W = 10028*100.
2. Due have payed in 3 months = 9/12.
3. Interest = 12%.
4. Rs = (10028*100)/100+(12*9/12).
5. 9200.
2. Due have payed in 3 months = 9/12.
3. Interest = 12%.
4. Rs = (10028*100)/100+(12*9/12).
5. 9200.
Sabari said:
9 years ago
@gopikrishna. From where did you get PW? I'm sorry, I can't understand the question.
Parul mehta said:
9 years ago
In the first attempt, I also calculated the answer Rs. 9222.17 but this approach is wrong.
Because merchant makes a deal for one year and trader is paying before the due date so we have to subtract interset on that amount for 9 months.
The amount that trader has to pay after 1 year, he settles it after 3 months i.e. 9 months before the due date.
So PW of the amount now after 3 months i.e. 9 months before the actual payment as the deal is done can be calculated simply as given in the solution.
Because merchant makes a deal for one year and trader is paying before the due date so we have to subtract interset on that amount for 9 months.
The amount that trader has to pay after 1 year, he settles it after 3 months i.e. 9 months before the due date.
So PW of the amount now after 3 months i.e. 9 months before the actual payment as the deal is done can be calculated simply as given in the solution.
Ramesh said:
9 years ago
I didn't understand this, please explain me.
Abhinav said:
9 years ago
It would be 10028/(1.12)^(9/12) = 9210.87.
Yamini.r said:
9 years ago
Why 100 is added in the denominator?
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