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1. The banker's gain of a certain sum due 2 years hence at 10% per annum is Rs. 24. The present worth is:

A. Rs. 480

B. Rs. 520

C. Rs. 600

D. Rs. 960

Solution:

\begin{aligned} T . D . = \frac{B . G . \times 100}{R a t e \times T i m e} \\ = R s . (\frac{24 \times 100}{10 \times 2}) \\ = R s . 120 \\ ∴ P . W . = \frac{100 \times T . D .}{R a t e \times T i m e} \\ = R s . (\frac{100 \times 120}{10 \times 2}) \\ = R s . 600 \end{aligned}

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