A trader owes a merchant Rs. 901 due 1 year’s hence. However, the trader wants to settle the account after 3 months. How much cash should he pay, if rate of interest is 8% per annum:

A trader owes a merchant Rs. 901 due 1 year’s hence. However, the

1.	A trader owes a merchant Rs. 901 due 1 year’s hence. However, the trader wants to settle the account after 3 months. How much cash should he pay, if rate of interest is 8% per annum:
A.	Rs. 870
B.	Rs. 850
C.	Rs. 828.92
D.	Rs. 846.94
Answer» C. Rs. 828.92

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A trader owes a merchant Rs. 901 due 1 year’s hence. However, the trader wants to settle the account after 3 months. How much cash should he pay, if rate of interest is 8% per annum:

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