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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?

Option :

Answer:Option 1

Explanation:

Solution:
RequiredMoney = P.W.ofRs.10028due9monthshence=Rs.[10028×100100+(12×912)]=Rs.9200.



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