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CUET · MATHS · PYQ PAPER 2025

The amount to be deposited at the end of every 6 months to accumulate Rs. 50,000 in 8 years, if money is worth 6% p.a. compounded semiannually, is : (Given \((1.03)^{16}=1.6047\) )

  1. A Rs. 3432.53
  2. B Rs. 2783.08
  3. C Rs. 2480.57
  4. D Rs. 2149.93
Verified Solution

Answer & Solution

Correct Answer

(C) Rs. 2480.57

Step-by-step Solution

Detailed explanation

\( n = 8 \text{ years} \times 2 \text{ periods/year} = 16 \) \( i = \frac{0.06}{2} = 0.03 \) \( FV = P \frac{((1+i)^n - 1)}{i} \) \( 50000 = P \frac{((1.03)^{16} - 1)}{0.03} \) \( 50000 = P \frac{(1.6047 - 1)}{0.03} \) \( 50000 = P \frac{0.6047}{0.03} \)…