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Arthur Yardley

· started a discussion

· 1 Months ago

Why Simple interest? (Question: 326284.0 )

You have not given simple/ compound clearly.

Question:

A owes B  Rs.1573, payable  112     yr hence. Also B owes A Rs.1444.50, payable 6 months hence. If they want to settle the account forthwith, keeping 14% as the rate of interest, then who should pay whom and how much?

Options:
A)

A to B,  Rs.28.50

B)

B to A,  Rs.37.50  

C)

A to B,  Rs.50

D)

B to A,  Rs.50

Solution:

Ans: (d)


Shaillender

· commented

· 1 Months ago

If it's not given, it is assumed simple interest.
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