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?

Options

A.

₹9,550

B.

₹9,450

C.

₹9,540

D.

₹9,405

simple interestinterest calculationtime value of moneyssc 2024

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