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A trader owes a merchant Rs 10,028 du...

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

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