An amount of sum, when invested at #10%# becomes #$100,000# in #150# days. What is the original amount assuming there are #360# days in a year?

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Answer 1 · 2018-02-05T08:03:10

Present value is #$960,000#.

Let the present value be #P#.

Then this #P# after #150# days at #10%# shuld become

#Pxx(1+(10xx150)/(100xx360))=1000000#

or #Pxx(1+15/360)=1000000#

or #Pxx25/24=1000000#

i.e. #P=1000000xx24/25=960000#