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Question
What is sum due of ₹ 8,000 due 4 months hence at 12.5% simple interest?
Solution
Present worth (P.W.) = ` 8,000
Period (n) = `4/12` years
r = 12.5%
T.D. = `("P.W." xx "n" xx "r")/100`
`= (8000 xx 4/12 xx 12.5)/100`
`= (8000 xx 4.17)/100`
= ₹ 333
Sum due (S.D.) = P.W. + T.D
= 8000 + 333 = 8333
∴ Sum due is ₹ 8,333.
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