CUET Preparation Today
What sum of money should be invested now so as to get ₹7,500 at the beginning of every month forever, if the money is worth 7.5% per annum compounded monthly ? |
₹7,50,000 ₹12,00,000 ₹10,07,500 ₹12,07,500 |
₹12,07,500 |
The correct answer is Option (4) → ₹12,07,500 The present value (PV) is, $PV=\frac{A}{r}×(1+r)$ $=\frac{7500}{0.00625}×(1+0.00625)$ $=₹12,07,500$ |
