The bankers gain of a certain sum due 2 years hence at 10% per annum is Rs. 24.

Question

The bankers gain of a certain sum due 2 years hence at 10% per annum is Rs. 24. The present worth is:

Options:

A . Rs. 480

B . Rs. 520

C . Rs. 600

D . Rs. 960

Answer: Option C

T.D. = \(\left(\frac{B.G\times100}{Rate\times Time}\right) = Rs.\left(\frac{24\times100}{10\times100}\right) = Rs.120.\)

Therefore p.w. = \(\left(\frac{100\times T.D.}{Rate\times Time}\right) = Rs.\left(\frac{100\times120}{10\times100}\right) = Rs.600.\)

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