Discussion
The present worth of Rs. 2310 due 2 1/2 years hence, the rate of interest being 15% per annum, is:
Answer: B
\[ \text{Amount} = \text{PW}\left(1 + \frac{RT}{100}\right), \qquad \text{TD} = \text{Amount} - \text{PW} \]
Here \( T = 2\tfrac{1}{2} = 2.5 \) years at 15%:
\[ \frac{RT}{100} = \frac{15 \times 2.5}{100} = 0.375 \]
\[ \text{PW} = \frac{2310}{1.375} = \text{Rs. } 1680 \]
Checking: the true discount is \( 2310 - 1680 = 630 \), and 37.5% of 1680 is indeed 630. Note the interest is reckoned on the present worth, not on the Rs. 2310 face value.
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