Practicing Success

Target Exam

CUET

Subject

-- Mathematics - Section B2

Chapter

Financial Mathematics

Question:

What sum of money should be invested now so as t o get ₹7,500 at the beginning of every month forever, if the money is worth 7.5% per annum compounded monthly ?

Options:

₹7,50,000

₹12,00,000

₹10,07,500

₹12,07,500

Correct Answer:

₹12,07,500