Find the sum due, if the true discount on a sum due 2 yr hence at 7% be ₹ 672.

₹ 5500
₹ 5425
₹ 5472
₹ 5300

Correct Answer: ₹ 5472

Explanation:

Given that, R = 7%, T = 2 yr,
TD = ₹ 672 and Sum due (A) = ?
According to the formula, (3)
TD = (A x R x T) / (100 + R x T)
⇒ 672 = (A x 7 x 2) / (100 + 7 x 2) = 14A/114
∴ A = (114 x 672)/14 = ₹ 5472

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