Question

Find the present worth of Rs. 9261 due 3 years hence at $5 \%$ per annum compounded yearly. (a) Rs. 7000 (b) Rs. 8000 (c) Rs. 9000 (d) None of these

   Find the present worth of Rs. 9261 due 3 years hence at $5 \%$ per annum compounded yearly.
(a) Rs. 7000
(b) Rs. 8000
(c) Rs. 9000
(d) None of these

The Pearson Guide to Objective Arithmetic for Competitive Examinations

The Pearson Guide to Objective Arithmetic for Competitive Examinations

Dinesh Khattar 2nd Edition

Chapter 10, Problem 4

Instant Answer

Step 1

The formula is given by: \[ PV = \frac{FV}{(1 + r)^n} \] where: - \( PV \) = Present Value - \( FV \) = Future Value (Rs. 9261) - \( r \) = interest rate (5% or 0.05) - \( n \) = number of years (3 years) Show more…

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Find the present worth of Rs. 9261 due 3 years hence at $5 \%$ per annum compounded yearly. (a) Rs. 7000 (b) Rs. 8000 (c) Rs. 9000 (d) None of these

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