CUET · MATHS · PYQ PAPER 2025
What sum of money is needed to invest now, so as to get ₹5000 at the beginning of every month forever, if the money is worth \(6\%\) per annum compounded monthly?
- A ₹ 10,00,500
- B ₹ 10,50,000
- C ₹ 10,00,000
- D ₹ 10,05,000
Answer & Solution
Correct Answer
(D) ₹ 10,05,000
Step-by-step Solution
Detailed explanation
\( \text{Monthly interest rate (i)} = \frac{6\%}{12} = \frac{0.06}{12} = 0.005 \) \( \text{Present Value (Perpetuity Due)} = \text{PMT} + \frac{\text{PMT}}{\text{i}} \) \( \text{PV} = 5000 + \frac{5000}{0.005} = 5000 + 1000000 =\) ₹ \(10,05,000\)
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