What will be the true discount for the present worth of ₹ 600 for a period of 4 yr at 4% per annum rate of interest?

Question

Accepted Answer

Given that, T = 4 yr, R = 4% PW = ₹ 600 and TD = ? According to the formula, (1) TD = (PW x R x T)/100 TD = (600 x 4 x 4)/100 = 6 x 4 x 4 = ₹ 96

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