"Present value" is the current value of a future sum of money. A concept known as the "time value of money" asserts that a certain sum today is worth more than the same sum tomorrow. This partly comes ...

Rajyavardhan has a 10-year-old son who is very inquisitive about money. Wanting to test his son’s savviness, he showed his son a Rs 2000 note and gave him a choice: his son could either opt to take ...