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A man wants to sell his scooter. There are two offers, one at Rs. 12,000 cash and the other a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum. Which is the better offer?

Rs. 12,000 in cash
s. 12,880 at credit
Both are equally good

Correct Answer: Rs. 12,000 in cash

Explanation:

P.W. of Rs. 12,880 due 8 months hence

= Rs.

[

12880 x 100

]

100 +	❨	18 x	8	❩
			12

= Rs.	❨	12880 x 100	❩
		112

= Rs. 11500.

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