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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. 2190.28
- b)Rs. 1290.28
- c)Rs. 2180.28
- d)None of these
Correct answer is option 'A'. Can you explain this answer?
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The amount of an annuity certain of Rs. 150 for 12 years at 3.5% p.a. ...
Given, annuity certain = Rs. 150 for 12 years
Rate of interest (r) = 3.5% p.a.
Let the amount of annuity certain be A.
Using the formula for the present value of an annuity,
A = [P(1+i)^n - 1]/i
where P is the periodic payment, i is the rate of interest per period, and n is the number of periods.
Substituting the given values, we get
A = [150(1+0.035)^12 - 1]/0.035
= [150(1.035^12 - 1)]/0.035
= 2190.28
Therefore, the amount of the annuity certain is Rs. 2190.28, which is option A.
Rate of interest (r) = 3.5% p.a.
Let the amount of annuity certain be A.
Using the formula for the present value of an annuity,
A = [P(1+i)^n - 1]/i
where P is the periodic payment, i is the rate of interest per period, and n is the number of periods.
Substituting the given values, we get
A = [150(1+0.035)^12 - 1]/0.035
= [150(1.035^12 - 1)]/0.035
= 2190.28
Therefore, the amount of the annuity certain is Rs. 2190.28, which is 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 isa)Rs. 2190.28b)Rs. 1290.28c)Rs. 2180.28d)None of theseCorrect answer is option 'A'. Can you explain this answer?
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The amount of an annuity certain of Rs. 150 for 12 years at 3.5% p.a. C.I isa)Rs. 2190.28b)Rs. 1290.28c)Rs. 2180.28d)None of theseCorrect answer is option 'A'. Can you explain this answer? 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 isa)Rs. 2190.28b)Rs. 1290.28c)Rs. 2180.28d)None of theseCorrect answer is option 'A'. Can you explain this answer? 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 isa)Rs. 2190.28b)Rs. 1290.28c)Rs. 2180.28d)None of theseCorrect answer is option 'A'. Can you explain this answer?.
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