Advertisements
Advertisements
प्रश्न
Find the amount of an ordinary annuity of 12 monthly payments of ₹ 1,500 that earns interest at 12% per annum compounded monthly. [(1.01)12 = 1.1262]
उत्तर
Here a = 1,500, n = 1 year, and i = `12/100`
`"i"/"k" = (12/100)/12 = 1/100` = 0.01
A = `"a"/("i"/"k") [(1 + "i"/"k")^("nk") - 1]`
= `1500/0.01 [(1 + 0.01)^(1 xx 12) - 1]`
= `150000/1 [(1 + 0.01)^(1 xx 12) - 1]`
= 150000 [(1.01)12 – 1]
= 150000 [1.1262 – 1] ............[∵ (1.01)12 = 1.1262]
= 150000 [0.1262]
= ₹ 18,930
APPEARS IN
संबंधित प्रश्न
If the payment of ₹ 2,000 is made at the end of every quarter for 10 years at the rate of 8% per year, then find the amount of annuity. [(1.02)40 = 2.2080]
A person deposits ₹ 2,000 at the end of every month from his salary towards his contributory pension scheme. The same amount is credited by his employer also. If 8% rate of compound interest is paid, then find the maturity amount at end of 20 years of service. [(1.0067)240 = 4.9661]
Find the present value of an annuity of ₹ 900 payable at the end of 6th month for 6 years. The money compounded at 8% per annum. [(1.04)–12 = 0.6252]
What is the present value of an annuity due of ₹ 1,500 for 16 years at 8% per annum? What is the present value of an annuity due of ₹ 1,500 for 16 years at 8% per annum? [(1.08)16 = 3.172]
If ‘a’ is the annual payment, ‘n’ is the number of periods and ‘i’ is compound interest for ₹ 1 then future amount of the ordinary annuity is
An annuity in which payments are made at the beginning of each payment period is called ___________.
An equipment is purchased on an installment basis such that ₹ 5000 on the signing of the contract and four-yearly installments of ₹ 3000 each payable at the end of first, second, third and the fourth year. If the interest is charged at 5% p.a find the cash down price. [(1.05)–4 = 0.8227]
Find the amount of an annuity of ₹ 2000 payable at the end of every month for 5 years if money is worth 6% per annum compounded monthly. [(1.005)60 = 1.3489]
A cash prize of ₹ 1,500 is given to the student standing first in examination of Business Mathematics by a person every year. Find out the sum that the person has to deposit to meet this expense. Rate of interest is 12% p.a.
Machine A costs ₹ 15,000 and machine B costs ₹ 20,000. The annual income from A and B are ₹ 4,000 and ₹ 7,000 respectively. Machine A has a life of 4 years and B has a life of 7 years. Find which machine may be purchased. (Assume discount rate 8% p.a) [(1.08)–4 = 0.7350, (1.08)–7 = 0.5835]
