CUET · MATHS · PYQ PAPER 2025
Rakshita plans to buy a house for Rs. 1,00,00,000 with down payment of 20% of the value of the house paid by her mother. Rest of the amount she wishes to pay in 25 years by equal monthly instalments at an interest of 9% per annum compounded monthly Then the EMI paid by her is \(\left(\right.\) Given \(\left.(1.0075)^{300}=9\right)\) :
- A Rs. 50,000
- B Rs. 40,000
- C Rs. 70,700
- D Rs. 67,500
Answer & Solution
Correct Answer
(D) Rs. 67,500
Step-by-step Solution
Detailed explanation
Principal \( P = 1,00,00,000 - (0.20 \times 1,00,00,000) = 80,00,000 \) Monthly interest rate \( r = \frac{9\%}{12} = 0.75\% = 0.0075 \) Total number of instalments \( n = 25 \times 12 = 300 \) \( EMI = P \frac{r(1+r)^n}{(1+r)^n - 1} \)…
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