What will be the present value of ₹90,774 due 2 years hence, when the interest is compounded at 23% per annum?

₹65,000 ₹62,950 ₹60,850 ₹60,000

₹60,000

The Formula that we used here is - Amount = P$(1 \;+\; \frac{R}{100})^t$ 90774 = P [ 1 + \(\frac{23}{100}\) ]² 90774 = P [ \(\frac{123}{100}\) ]² 90774 × \(\frac{100}{123}\) × \(\frac{100}{123}\) = P P = 60000