26.A trader owens a merchant Rs.10,028 due 1` year hence. The trader wants to settle the account after 3 months.If the rate of interest is 12% per annum , how much cash should he pay?
A. Rs.9025.20
B. Rs.9200
C. Rs.9600
D. Rs.9560
Answer:B
Required money P.W of Rs.10028 due 9 months
Rs.[10028x100/100+(12x9/12)]
= Rs.9200.
