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