The Present worth of Rs. 1404 due in two equal half-yearly instalments at 8% per annum simple interest is :  Choose the most appropriate option:
A) rs . 1325 B) rs . 1300 C) rs . 1350 D) rs . 1500 E) none

Rationale: solution required sum = p . w . of rs . 702 due 6 month hence + p . w . of rs . 702 due 1 year hence = rs . [ ( 100 x 702 / 100 + 8 x 1 / 2 ) + ( 100 x 702 / 100 + ( 8 x 1 ) ) ] = rs . ( 675 + 650 ) = rs . 1325 . answer a
Answer: A