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What sum of money invested now child establish a scholarship of Rs 5000 which is to be awarded at the end of every year forever, if money is worth 8% per annum. |
₹63000 ₹62000 ₹61500 ₹62500 |
₹62500 |
The correct answer is option (4) : ₹62500 Given $R= ₹5000$ $r= 8$% p.a $i=\frac{8}{100}=0.08$ So, $P=\frac{R}{i}=\frac{5000}{0.08}$ $=₹62500$ |
