Question

Find the discounted value of Rs. 10,000 due at the end of 90 days, if money is worth 10% interest?
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Answer 1

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$90 \: days = 2months = \frac{2}{12} years = \frac{1}{6} years \\ simple \: interest = \frac{principle \times rate \times time}{100} \\ = \frac{10000 \times 10 \times \frac{1}{6} }{100} = ₹166.67 \\ total \: amount \: received \: at \: the \: end \: of \: 90 \: days \: is \\ (10000 + 166.67) = ₹10166.67$

₹10166.67 is the right answer.