an amount of rs 20000 is due in 3 months۔ the present value if it includes Simple interest rate 8percent

Answer 1

let the present value be x
x + (3/12)(.08)x = 20,000
1.02x=20000
x = 19,607.84

check:
interest = 19607.84(3/12)(.08) = 392.16
total = 19,607.84 + 392.16 = 20,000