CUET Preparation Today
At what rate of interest will the present value of a perpetuity of Rs 300 payable at the end of each quarter be Rs 24000 ? |
5% p.a 4%p.a 3%p.a 6%p.a |
5% p.a |
The correct answer is option (1) : 5% p.a Let the rate of interest be r% per annum then $i=\frac{r}{100}$ Given $R= ₹300$ $P=₹24000$ So, $i=\frac{R}{P}⇒\frac{r}{400}=\frac{300}{24000}$ $r= 5$% P.a |
