Class 12 CBSE Applied Maths Perpetuity, Sinking Funds, Bonds & EMI Case Study
Class 12 CBSE Applied Maths aims to develop an understanding of basic
mathematical and statistical tools and their
applications in the field of commerce (business/ finance/economics) and social
sciences. Topics covered in Class 12th Applied Maths includes : Numbers, Quantification and
Numerical Applications, Algebra, Calculus, Probability Distributions , Inferential Statistics, Index
Numbers and Time-based data , Financial Mathematics , Linear Programming.
Please Select
Q1.
In year 2000, Mr. Talwar took a home loan of Rs 3000000 from State Bank of India at 7.5% p.a. compounded monthly for 20 years.
Based on the above information, answer the following questions:
(i) The equated monthly installment paid by Mr. Talwar was
(a) Rs 24167.82 (b) Rs 35288.82 (c) Rs 37839.85 (d) Rs 39437.75
(ii) Interest paid by Mr. Talwar in 150th payment was
(a) Rs 20132.84 (b) Rs 15712.67 (c) Rs 10458.69 (d) Rs 9532.76
(iii) Principal paid by Mr. Talwar in 150th payment was
(a) Rs 74034.98 (b) Rs 8455.15 (c) Rs 14635.06 (d) Rs 13709.13
(iv) Principal outstanding at the beginning of 193th month was
(a) Rs 515394.12 (b) Rs 410293.41 (c) Rs 385513.82 (d) Rs 356432.67
(v) Total interest paid by Mr. Talwar was
(a) Rs 2800276.80 (b) Rs 3003415.12 (c) Rs 3141345.96 (d) Rs 3200147.83
[Use (1.00625)240 = 4.4608, (1.00625)91 = 1.7629, (1.00625)48 = 1.1187]
Solution :
