The banker’s gain of a certain sum due 2 years hence at 10% per annum is Rs. 24 the present worth is?

One Answer on this Question

1. General formula for simple interest is SI=PTR/100
   Then P= SI x 100 / TR
   Here SI= rs.24, T= 2 years, R = 10%
   P= 24 x 100 / 2 x 10 = 120 Rs

   Answer : Rs. 120

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