15.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. 9025.20
B. Rs. 9200
C. Rs. 9600
D. Rs. 9560
Answer:
Option : B
Required money = P.W. of Rs. 10028 due 9 months hence
= Rs. 9200.
