At a rate of 10% per year, the banker's gain on a specific sum due in two years is Rs. 24. The current value is:
A. Rs. 480
B. Rs.520
C. Rs.600
D. Rs.960
Answer:C
At a rate of 10% per year, the banker's gain on a specific sum due in two years is Rs. 24. The current value is:
A. Rs. 480 B. Rs.520 C. Rs.600 D. Rs.960
Explanation: T.D. = B.G. x 100/Rate x Time= Rs. 24 x 100/10 x 2 = Rs. 120 T.D. = B.G. x 100/Rate x Time= Rs. 24 x 100/10 x 2 = Rs. 120.P.W. = 100 x T.D./Rate x Time = Rs. 100 x 120/10 x 2 = Rs. 600 P.W. = 100 x T.D./Rate x Time = Rs. 600.