The present worth of Rs.1404 due in two equal half-yearly instalments at 8% per annum. Simple interest is:
Answer: C
Required Sum = PW of Rs.702 due 6 months hence + PW of Rs.702 due 1 year hence
= Rs.[ (100 x 702) / (100+(8 x 1/2)) ] + [ (100 x 702) / (100+(8 x 1)) ]
= Rs.1325