Practicing Success

Target Exam

CUET

Subject

-- Mathematics - Section B2

Chapter

Financial Mathematics

Question:

A loan of ₹200000 at the interest rate of 6% p.a. compounded monthly is to be amortized by equal payments at the end of each month for 5 years. The monthly payment is :

[Given $(1.005)^{-60}=0.74137220$]

Options:

₹1,866.57

₹4,886.57

₹3,866.57

₹2,866.57

Correct Answer:

₹3,866.57