The present worth of rs. 1404 due in two equal half-yearly installments at 8% per annum simple interest is:
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Required sum
= P.W. of Rs. 702 due 6 months + P.W. of Rs. 702 due 1 year
= Rs 100 x 702/ 100 + 8 x 1/2 +100 x 702/100 + ( 8 x 1 )
= Rs 675 + 650
= Rs 1325
= P.W. of Rs. 702 due 6 months + P.W. of Rs. 702 due 1 year
= Rs 100 x 702/ 100 + 8 x 1/2 +100 x 702/100 + ( 8 x 1 )
= Rs 675 + 650
= Rs 1325
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