M sold goods worth of Rs 1,50,000 to N. On 1st Oct, N immediately accepted a three month bill. On due date N requested that the bill be renewed for a fresh period of 3 months. N agrees to pay interest @ 18% p a. in cash. How much interest to be paid in cash by N?

6,750.

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5,400.

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6,000.

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3,300.

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Solution

The correct option is B 6,750.
Calculation of Interest is to be charged @ 18% p.a. for 3 months.
15000018/100 3/12
6750

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M sold goods worth of Rs 1,50,000 to N. On 1st Oct, N immediately accepted a three month bill. On due date N requested that the bill be renewed for a fresh period of 3 months. N agrees to pay interest @ 18% p a. in cash. How much interest to be paid in cash by N?

The correct option is B 6,750.Calculation of Interest is to be charged @ 18% p.a. for 3 months. 150000*18/100* 3/12 6750

The correct option is B 6,750.
Calculation of Interest is to be charged @ 18% p.a. for 3 months.
15000018/100 3/12
6750