A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants – McqOptions

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1.	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.	Rs. 9200
B.	Rs. 9025.20
C.	Rs. 9560
D.	Rs. 9600
Answer» B. Rs. 9025.20

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