The true discount on a bill a due 8 months hence at 12% per annum is Rs. 240. Find the amount of the bill and its present worth?

Rs. 3000, Rs . 3240
Rs. 2000, Rs . 2240
Rs. 2100, Rs . 2340
None of these

Correct Answer: Rs. 3000, Rs . 3240

Explanation:

P.W. = (100 x T.D.) / (R x T) = (100 x 240) / (12 x 8/12) = Rs. 3000
∵ P.W. is Rs. 3000
∴ A = Amount of bill = P.W. + T.D. = 3000 + 240 = 3240

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