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Q: 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 and Explanation

Answer:Rs. 9200

Explanation:

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