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Quantitative Aptitude

Simple Interest & Compound Interest

Question 36. ...

Question

Question 36.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?

A

(a) Rs. 9025.20

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B

(b) Rs. 9200

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C

(c) Rs. 9600

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D

(d) Rs. 9560

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Solution

The correct option is B
(b) Rs. 9200

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