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Question
The present worth of ₹ 169 due in 2 years at 4% per annum compound interest is
Options
₹ 150.50
₹ 154.75
₹ 156.25
₹ 158
MCQ
Solution
₹ 156.25
Explanation:
Given, P = ₹ 169, T = 2 years, R = 4%
Present Worth = `P/(1 + R/100)^T`
Present Worth = ₹ `169/(1 + 4/100)^2`
= ₹ `(169 xx 25/26 xx 25/26)`
= ₹ 156.25
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Simple and Compound Interest (Entrance Exam)
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