#### Explanation:

Let the present value be $P$.

Then this $P$ after $150$ days at 10% shuld become

$P \times \left(1 + \frac{10 \times 150}{100 \times 360}\right) = 1000000$

or $P \times \left(1 + \frac{15}{360}\right) = 1000000$

or $P \times \frac{25}{24} = 1000000$

i.e. $P = 1000000 \times \frac{24}{25} = 960000$