CUET · MATHS · PYQ PAPER 2023
A sum of ₹ 60,000 invested at \(r \%\) compounded quarterly will provide payments at ₹ 600 each at the end of every three months. Then the value of \(r\) is :
- A 0.08
- B 0.04
- C 0.02
- D 0.05
Answer & Solution
Correct Answer
(B) 0.04
Step-by-step Solution
Detailed explanation
\(i = \frac{PMT}{PV}\) \(i = \frac{600}{60000}\) \(i = 0.01\) \(r = 4i\) \(r = 4 \times 0.01\) \(r = 0.04\)
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