Q.Find the present value of an ordinary annuity of ₹6,000 paid at the end of every year for 3 years at 9% per annum compound interest. [Given $(1.09)^{-3} = 0.7722$]

Apply the present-value-of-an-ordinary-annuity formula directly with $P=6000$, $i=0.09$, $n=3$.

Step 1 — Identify the values. $P=6000$, $i=0.09$, $n=3$.

Step 2 — Apply the formula.

Step 3 — Compute. $\dfrac{0.2278}{0.09} \approx 2.5311$. $V \approx 6000\times2.5311 \approx 15{,}187$. …

Applying the future-value formula (using $(1+i)^n$ instead of $(1+i)^{-n}$, and dividing rather than the correct algebraic form) to a question that explicitly asks for present value is a common formula mix-up — always check whether the question …