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 5 of 6.
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
David said:
1 decade ago
What Madhu said makes sense to me? Please elaborate.
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)
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)
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.
Nikhil said:
1 decade ago
Can anyone explain me meaning of this problem, I couldn't understand it properly?
Anuj ojha said:
1 decade ago
Thanks for the explanation.
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...
Vidu said:
1 decade ago
How it s 9 months, please can anyone explain me ?
Naveen said:
1 decade ago
You have done a good job. Superb and thanks.
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