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Get Answers to all your Questions
14. Find the present value (in Rs.) of Rs.3000 due after 5 years at 10% p.a. simple interest.
Option: 1
1500
Option: 2
1800
Option: 3
2000
Option: 4
2500
Answers (1)
A = 3000
T = 5 years
R = 10 %
Interest for 5 years at 10 % rate is equal to the 50 % of P and amount will be 150 % of P
3000 is 150 %
$3000 / 150 \times 100=2000$
i.e $100 \%$ is equal to the $\mathrm{P}$ which is $2000 \mathrm{Rs}$.
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