The present worth of Rs. 1404 due in two equal half-yearly installments at 8% pe

Question

The present worth of Rs. 1404 due in two equal half-yearly installments at 8% per annum simple interest is:

Options:

A . Rs. 1325

B . Rs. 1300

C . Rs. 1350

D . Rs. 1500

Answer: Option A

Required sum = P.W. of Rs. 702 due 6 months + P.W. of Rs. 702 due 1 year hence

= Rs. \(\left[\left(\frac{100\times702}{100+8\times\frac{1}{2}}\right)+\left(\frac{100\times702}{100+(8\times1)}\right)\right]\)

= Rs. (675 + 650)

= Rs. 1325.

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