What annual payment w

Question

What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?

Options:

A . Rs. 560

B . Rs. 560.75

C . Rs. 551.25

D . Rs. 550

Answer: Option C

Answer : Option C

Explanation :

Present worth of Rs. x due T years hence is given by
$MF#%\text{Present Worth (PW) = }\dfrac{x}{\left(1 + \dfrac{\text{R}}{100}\right)^\text{T}}$MF#%

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