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 6 of 6.
Krish said:
1 decade ago
The trader is to pay 10028 to the merchant after an year as total sum(amount taken + interest). Instead he chooses to pay it back within 3 months i.e now he would have had to pay an interest for only 3 months on the amount taken instead of for 1 year. Logically calculate amount taken(8953) and calculate 3 months interest and so answer should be 9222.
Shivam sadh said:
1 decade ago
Yeah @Madhu @krish @david.
What you all said make sense to me too.
And even I am getting the same answer which is 9222.17.
Can anyone here please explain the answer given by our own Indiabix.
Thank you.
What you all said make sense to me too.
And even I am getting the same answer which is 9222.17.
Can anyone here please explain the answer given by our own Indiabix.
Thank you.
Shashi mishra said:
1 decade ago
Why 100 is added in denominator?
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