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How much amount is required to be invested every year as to accumulate ₹ 7,96,870 at the end of 10 years, if interest compounded annually at 10% given that A (10, 0.1) = 15.9374? (a) ₹ 40,000 (b) ₹ 4,50,000 (c) ₹ 48,000 (d) ₹ 50,000?
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How much amount is required to be invested every year as to accumulate...
Given information:
- Amount to be accumulated at the end of 10 years = ₹ 7,96,870
- Rate of interest compounded annually = 10%
- A (10, 0.1) = 15.9374
To find:
- Amount to be invested every year for 10 years
Solution:
Using the formula for compound interest:
A = P(1 + r/n)^(nt)
where,
A = amount accumulated at the end of time period
P = principal amount
r = annual interest rate
n = number of times interest is compounded per year
t = time period in years
In this case, we want to find the value of P, which is the amount to be invested every year for 10 years.
Let's first calculate the value of P using the given information about A and r:
15.9374 = P(1 + 0.1/1)^(1*10)
15.9374 = P(1.1)^10
15.9374/1.1^10 = P
P = ₹ 4,50,000
So, the amount to be invested every year for 10 years is ₹ 4,50,000.
Answer: (b) ₹ 4,50,000
- Amount to be accumulated at the end of 10 years = ₹ 7,96,870
- Rate of interest compounded annually = 10%
- A (10, 0.1) = 15.9374
To find:
- Amount to be invested every year for 10 years
Solution:
Using the formula for compound interest:
A = P(1 + r/n)^(nt)
where,
A = amount accumulated at the end of time period
P = principal amount
r = annual interest rate
n = number of times interest is compounded per year
t = time period in years
In this case, we want to find the value of P, which is the amount to be invested every year for 10 years.
Let's first calculate the value of P using the given information about A and r:
15.9374 = P(1 + 0.1/1)^(1*10)
15.9374 = P(1.1)^10
15.9374/1.1^10 = P
P = ₹ 4,50,000
So, the amount to be invested every year for 10 years is ₹ 4,50,000.
Answer: (b) ₹ 4,50,000
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How much amount is required to be invested every year as to accumulate...
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How much amount is required to be invested every year as to accumulate ₹ 7,96,870 at the end of 10 years, if interest compounded annually at 10% given that A (10, 0.1) = 15.9374? (a) ₹ 40,000 (b) ₹ 4,50,000 (c) ₹ 48,000 (d) ₹ 50,000?
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How much amount is required to be invested every year as to accumulate ₹ 7,96,870 at the end of 10 years, if interest compounded annually at 10% given that A (10, 0.1) = 15.9374? (a) ₹ 40,000 (b) ₹ 4,50,000 (c) ₹ 48,000 (d) ₹ 50,000? 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 How much amount is required to be invested every year as to accumulate ₹ 7,96,870 at the end of 10 years, if interest compounded annually at 10% given that A (10, 0.1) = 15.9374? (a) ₹ 40,000 (b) ₹ 4,50,000 (c) ₹ 48,000 (d) ₹ 50,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How much amount is required to be invested every year as to accumulate ₹ 7,96,870 at the end of 10 years, if interest compounded annually at 10% given that A (10, 0.1) = 15.9374? (a) ₹ 40,000 (b) ₹ 4,50,000 (c) ₹ 48,000 (d) ₹ 50,000?.
How much amount is required to be invested every year as to accumulate ₹ 7,96,870 at the end of 10 years, if interest compounded annually at 10% given that A (10, 0.1) = 15.9374? (a) ₹ 40,000 (b) ₹ 4,50,000 (c) ₹ 48,000 (d) ₹ 50,000? 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 How much amount is required to be invested every year as to accumulate ₹ 7,96,870 at the end of 10 years, if interest compounded annually at 10% given that A (10, 0.1) = 15.9374? (a) ₹ 40,000 (b) ₹ 4,50,000 (c) ₹ 48,000 (d) ₹ 50,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How much amount is required to be invested every year as to accumulate ₹ 7,96,870 at the end of 10 years, if interest compounded annually at 10% given that A (10, 0.1) = 15.9374? (a) ₹ 40,000 (b) ₹ 4,50,000 (c) ₹ 48,000 (d) ₹ 50,000?.
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