CUET · MATHS · PYQ PAPER 2023
If the present value for a sequence of payments made at the end of each 6 months and continuing forever is ₹6000. If the money is worth 4% compounded semi-annually, then, the value of sequence of payment made is:
- A ₹60
- B ₹120
- C ₹240
- D ₹480
Answer & Solution
Correct Answer
(B) ₹120
Step-by-step Solution
Detailed explanation
\(i = \frac{4\%}{2} = 0.02 \) \(PV = \frac{PMT}{i}\) \(PMT = PV \times i = 6000 \times 0.02 = 120 \)
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