Advertisements
Advertisements
Question
What is the present worth of a sum of ₹ 10,920 due six months hence at 8% p.a. simple interest?
Solution
Sum ₹ 10,920, Period(n) = `6/12` years, r = 8% p.a.
To find P.W.
S.D. = P.W. + T.D. …(i)
∴ S.D. = P.W. + `(("P.W." xx "n" xx "r")/100)`
∴ S.D. = P.W. `(1 + ("n" xx "r")/100)`
∴ 10,920 = P.W. `(1 + (6/12)/100 xx 8)`
∴ 10,920 = P.W. `(1 + 4/100)`
∴ 10,920 = P.W. `((100 + 4)/100)`
∴ 10,920 = P.W. `(104/100)`
∴ P.W. = `(10,920 xx 100)/104`
∴ P.W. = 10,500
∴ Present worth of a sum of ₹ 10,920 due six month at 8% p.a. simple interest is ₹ 10,500.
APPEARS IN
RELATED QUESTIONS
What is sum due of ₹ 8,000 due 4 months hence at 12.5% simple interest?
20 copies of a book can be purchased for a certain sum payable at the end of 6 months and 21 copies for the same sum in ready cash. Find the rate of interest.
True discount on a bill is ₹ 2,200 and bankers discount is ₹ 2,310. If the bill is due 10 months, hence, find the rate of interest.
A bill of ₹ 51,000 was drawn on 18th February 2010 for 9 months. It was encashed on 28th June 2010 at 5% p.a. Calculate the banker’s gain and true discount.
The sum due is also called as ______.
Choose the correct alternative.
P is the abbreviation of
Banker’s gain is simple interest on ______.
The marked price is also called as _____________.
The difference between face value and present worth is called ______.
Fill in the Blank.
An _______ is an agent who sells the goods by auction.
The difference between the banker’s discount and the true discount is called _______.
_______ = List price (catalogue Price) – Trade Discount.
Cash discount is allowed on list price.
State whether the following statement is True or False.
Trade discount is allowed on catalogue price.
State whether the following statement is True or False.
The date on which the period of the bill expires is called the nominal due date.
A merchant buys some mixers at 15% discount on catalogue price. The catalogue price is ₹ 5,500 per piece of a mixer. The freight charges amount to `2 1/2` % on the catalogue price. The merchant sells each mixer at 5% discount on catalogue price. His net profit is ₹ 41,250. Find a number of mixers.
A bill is drawn for ₹ 7,000 on 3rd May for 3 months and is discounted on 25th May at 5.5%. Find the present worth.
State whether the following statement is True or False:
The sum due is also called as Cash value
Swastik Distributers allows 15% discount on the list price of washing machine. Further 5% discount is given for cash payment. Find the list price of the washing machine if it was sold for the net amount of ₹ 38,356.25
