Suppose you are given the choice to take Rs 10,000 today or Rs 11,000 after a year? Most people would take Rs 10,000 right away because who knows if there will be money to be taken a year later. Now a financially savvy individual is likely to do the basic math that for Rs 10,000 of today to become Rs 11,000 a year later means that the money has to grow at 10 per cent for a year. Based on this new information, one may opt for the second option if 10 per cent gain is a good deal, and if not, stick to taking Rs 10,000 today and use it the way they feel best.
This story is from the June 27, 2022 edition of India Today.
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This story is from the June 27, 2022 edition of India Today.
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