A trader owes a merchant ₹9,810 due in 1 year, but the trader wants to settle the account after 6 months. If the rate of simple interest is 9% per ann...
Question
A trader owes a merchant ₹9,810 due in 1 year, but the trader wants to settle the account after 6 months. If the rate of simple interest is 9% per annum, how much cash (in ₹) should he pay?