"A trader owes a merchant Rs 10,028 due 1 year hence. The trader wants to settle the
Channel: Doubtnut
Date: 05/04/2020

"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 is 12% per annum, how much
 cash should he pay?
(a) Rs
 9025.20 (b) Rs 9200 (c) Rs 9600 (d) Rs 9560"