What is the present worth of Rs. 1,100 due 1 year hence at 10% per annum simple interest?
Correct answer B. Rs. 1,000
Explanation
Present worth is the sum that grows to the amount due: PW = A × 100 / (100 + RT) = 1,100 × 100/110 = Rs. 1,000.
Answer checked How we write and check questions
Discussion