What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum ?
Select the correct option.
A) Rs. 112  B) Rs. 118.80  C) Rs. 120  D) Rs. 122  E) None
Solution   Let the present worth be Rs. x. Then, S.I. = Rs. (132 - x).   ∴ (x 5 x 2 /100)=132 - x =10x = 13200 - 100x= 110x = 13200 = x = 120.   Answer Rs. 120
<result>C</result>
What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum ?