The bankers gain of a certain sum due 2 years hence at 10% per annum is Rs. 24. The present worth is:
Rs. 480
Rs. 520
Rs. 600
Rs. 960
Explanation:
| T.D. =$ \left(\dfrac{B.G. \times 100}{Rate \times Time} \right) $= Rs.$ \left(\dfrac{24 \times 100}{10 \times 2} \right) $= Rs. 120. |
| $\therefore$ P.W. =$ \dfrac{100 \times T.D.}{Rate \times Time} $= Rs.$ \left(\dfrac{100 \times 120}{10 \times 2} \right) $= Rs. 600. |