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Applied Mathematics · 2024 · 1 mark
CBSE 2024 · Central · Set 4 · Q16
What sum of money should be deposited at the end of every 6 months to accumulate ₹ 50,000 in 8 years, if money is worth 6% p.a. compounded…
What sum of money should be deposited at the end of every $\displaystyle 6$ months to accumulate ₹ $\displaystyle 50,000$ in $\displaystyle 8$ years, if money is worth $\displaystyle 6$% p.a. compounded semi-annually? [Given : $\displaystyle (1.03)^{16}=1.6047$]
Official answer
(C)
₹ $\displaystyle 2,480.57$
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CBSE Class 12 Applied Mathematics past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.