The banker’s gain of a certain sum due 3 years hence at 10% per annum is Rs. 36. What is the present worth ?
Answer: A
T = 3 years
R = 10%
TD = (BG * 100)/TR = (36*100)/(3*10) = 12*10 = Rs.120
TD = (PW * TR)/100
=> 120 = (PW * 3 * 10)/100
=> 1200 = PW * 3
=> PW = 1200/3 = Rs. 400