Practicing Success

Target Exam

CUET

Subject

-- Mathematics - Section B2

Chapter

Financial Mathematics

Question:

Raman bought a car in 2020 worth ₹5.95 lakh. He made a down payment of ₹1.5 lakh and took auto loan for rest amount at 12% p.a. for four years. Then EMI (to round off value ) is :

where $(1.01)^{48}= 1.6122.$

Options:

11719

11729

11739

11749

Correct Answer:

11719