The Present worth of Rs. 1404 due in two equal half-yearly instalments at 8% per annum simple interest is :  Select.
A) Rs. 1325  B) Rs. 1300  C) Rs. 1350  D) Rs. 1500  E) None
Solution   Required sum = P.W. of Rs. 702 due 6 month hence + P.W. of Rs. 702 due 1 year hence   = Rs.[(100x702/100 + 8 x1/2 )+ ( 100x702/100 + (8x1) )] = Rs. (675+650) = Rs. 1325.   Rs. 1325nswer Rs. 1325
<result>A</result>
The Present worth of Rs. 1404 due in two equal half-yearly instalments at 8% per annum simple interest is :