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If the true discount on a sum is $250 and the rate of interest is 12% per annum

Practice Questions

Q1
If the true discount on a sum is $250 and the rate of interest is 12% per annum for 3 years, what is the present worth?
  1. $2000
  2. $2200
  3. $2400
  4. $2600

Questions & Step-by-Step Solutions

If the true discount on a sum is $250 and the rate of interest is 12% per annum for 3 years, what is the present worth?
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