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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?

₹ 100
₹ 32
₹ 86
₹ 96

Correct Answer: ₹ 96

Explanation:

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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