The present worth of Rs.1404 due in two equal half-yearly instalments at 8% per annum. Simple interest is:
Choose the correct choice from the following:
A) 1320
B) 1300
C) 1325
D) 120
E) None of these
Explanation:   Required Sum = PW of Rs.702 due 6 months hence +PW of Rs.702 due 1 year hence   =Rs.[100×702/100+(8×12)+100×702/100+(8×1)]   = Rs. 1325   Answer: 1325
<result>C</result>
The present worth of Rs.1404 due in two equal half-yearly instalments at 8% per annum. Simple interest is: