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The present worth of Rs. 1404 due in two equal half-yearly installments at 8% per annum simple interest is:
Answer & Solution
Correct Answer:
Option
A
Required sum
= P.W. of Rs. 702 due 6 months + P.W. of Rs. 702 due 1 year hence
$$\eqalign{ & = Rs.\,\left[ { {\frac{{100 \times 702}}{{100 + 8 \times \frac{1}{2}}}} + {\frac{{100 \times 702}}{{100 + \left( {8 \times 1} \right)}}} } \right] \cr & = Rs.\,\left( {675 + 650} \right) \cr & = Rs.\,1325 \cr} $$
= P.W. of Rs. 702 due 6 months + P.W. of Rs. 702 due 1 year hence
$$\eqalign{ & = Rs.\,\left[ { {\frac{{100 \times 702}}{{100 + 8 \times \frac{1}{2}}}} + {\frac{{100 \times 702}}{{100 + \left( {8 \times 1} \right)}}} } \right] \cr & = Rs.\,\left( {675 + 650} \right) \cr & = Rs.\,1325 \cr} $$
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