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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?.
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31 votes
31 votes
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?.

User Bharath Ram
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3.0k points

1 Answer

15 votes
15 votes

Answer:

the trader should pay RS. 9200

Step-by-step explanation:

hope this helps

User Tim Allman
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