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Find the present worth of ₹ 9261 due 3 years hence at 5% per annum compounded yearly.
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- ₹ 8000
- ₹ 8200
- ₹ 8500
- ₹ 8700
Correct Option: A
Here, A = ₹ 9261 , r = 5% per annum , t = 3 years
We can find required answer with the help of given formula ,
| P = | ||||
 | 1 + | |||
 | t | |||
| 100 | ||||
| P = | ||||
| 1 + | |||
| 3 | |||
| 100 | ||||
| P = | ||||
| 8000 | ||||
P = ₹ 8000.
