Question

Raja's acceptance to Dinesh for Rs 8000 renewed at 3 months on the condition that Rs. 2000 be paid in cash immediately and the remaining amount will carry interest @ 18% per annum.​

Answer 1

As Raja requested Dinesh to renew his bill, Dinesh agreed to do so but he has put a condition to pay rs.2000 immediately and pay the remaining amount with interest. So here interest would be calculated as under:

=6000 x 18/100 x 3/12

=Rs. 270

So Rs. 270 would be the interest that would be given by Raja To Dinesh

So the total amount that Raja will be paying to Dinesh would be Rs. 6270.