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 is 12% per annum,how much cash should he pay ?	Answers
A) Rs. 9025.20
B) Rs. 9200
C) Rs. 9600
D) Rs. 9560
E) None of these
Solution   Required money = P.W. of Rs.10028 due 9 months hence   = Rs. [ 10028x 100/100+( 12 x9/12)] = Rs. 9200   Answer Rs. 9200
<result>B</result>
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 is 12% per annum,how much cash should he pay ?