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The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C.I is a) Rs.2,190.28 b) Rs.1,290.28 c) Rs.2,180.28 d) none of these?
Most Upvoted Answer
The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C...
Solution:
Given, Principal amount (P) = Rs.150, Rate of interest (R) = 3.5% p.a., Time (n) = 12 years
As per the formula, the amount of an annuity certain is given by:
A = P x ((1 + r)n - 1) / r
Where r = (1 + R/100)
We need to find out the amount of annuity certain for 12 years at 3.5% p.a. C.I.
Calculation:
r = (1 + R/100) = (1 + 3.5/100) = 1.035
A = 150 x ((1.035)^12 - 1) / (1.035 - 1)
A = 150 x (1.487 - 1) / 0.035
A = 150 x 0.487 / 0.035
A = 2,080.57
Therefore, the amount of an annuity certain for 12 years at 3.5% p.a. C.I. is Rs. 2,080.57.
Option (d) none of these is the correct answer as none of the options match with the calculated answer.
Given, Principal amount (P) = Rs.150, Rate of interest (R) = 3.5% p.a., Time (n) = 12 years
As per the formula, the amount of an annuity certain is given by:
A = P x ((1 + r)n - 1) / r
Where r = (1 + R/100)
We need to find out the amount of annuity certain for 12 years at 3.5% p.a. C.I.
Calculation:
r = (1 + R/100) = (1 + 3.5/100) = 1.035
A = 150 x ((1.035)^12 - 1) / (1.035 - 1)
A = 150 x (1.487 - 1) / 0.035
A = 150 x 0.487 / 0.035
A = 2,080.57
Therefore, the amount of an annuity certain for 12 years at 3.5% p.a. C.I. is Rs. 2,080.57.
Option (d) none of these is the correct answer as none of the options match with the calculated answer.
Community Answer
The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C...
Future value = Cash flow [(1+i)^12 -1] / (i)
= 150[(1+3.5/100)^12 -1] / (3.5/100)
=₹ 2190.28 option (a)
= 150[(1+3.5/100)^12 -1] / (3.5/100)
=₹ 2190.28 option (a)
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The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C.I is a) Rs.2,190.28 b) Rs.1,290.28 c) Rs.2,180.28 d) none of these?
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The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C.I is a) Rs.2,190.28 b) Rs.1,290.28 c) Rs.2,180.28 d) none of these? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C.I is a) Rs.2,190.28 b) Rs.1,290.28 c) Rs.2,180.28 d) none of these? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C.I is a) Rs.2,190.28 b) Rs.1,290.28 c) Rs.2,180.28 d) none of these?.
The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C.I is a) Rs.2,190.28 b) Rs.1,290.28 c) Rs.2,180.28 d) none of these? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C.I is a) Rs.2,190.28 b) Rs.1,290.28 c) Rs.2,180.28 d) none of these? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The amount of an annuity certain of Rs.150 for 12 years at 3.5% p.a. C.I is a) Rs.2,190.28 b) Rs.1,290.28 c) Rs.2,180.28 d) none of these?.
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