CUET · MATHS · PYQ PAPER 2025
Mr. Jayesh plans to save amount for higher studies of his daughter, required after 10 years. How much amount should he save at the beginning of each year to accumulate Rs.1,00,000 at the end of 10 years, if rate of interest is 12% compounded annually? [Given \((1.12)^{11}\) = 3.5]
- A Rs. 5291
- B Rs. 5000
- C Rs. 5042
- D Rs. 5500
Answer & Solution
Correct Answer
(C) Rs. 5042
Step-by-step Solution
Detailed explanation
\(FV = P \left[ \frac{(1+r)^n - 1}{r} \right] (1+r)\) \( (1.12)^{10} = \frac{(1.12)^{11}}{1.12} = \frac{3.5}{1.12} = 3.125 \) \( 100000 = P \left[ \frac{3.125 - 1}{0.12} \right] (1.12) \) \( 100000 = P \left[ \frac{2.125}{0.12} \right] (1.12) \)…
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