The present worth of ₹338 due in 2 years at 4% per annum compound interest is: _______

Correct option is D

Given:

Future Value (A) = ₹338
Time (t) = 2 years
Rate of interest (r) = 4% per annum (compounded annually)

Formula Used:

P =$$\frac{A}{(1 + \frac{r}{100})^t}$$​

Solution:

P =$$\frac{338}{(1 + \frac{4}{100})^2} = \frac{338}{(1.04)^2} = \frac{338}{1.0816} \approx ₹312.50$$​