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    Question

    A company purchases 1000 bonds of ₹100 each at ₹95

    cum-interest, and the interest rate is 8% payable, annually. How much accrued interest is included in the purchase price, assuming the purchase is made exactly one year after the last interest payment?
    A ₹8,000 Correct Answer Incorrect Answer
    B ₹7,000 Correct Answer Incorrect Answer
    C ₹6,000 Correct Answer Incorrect Answer
    D ₹7,600 Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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