CUET Mathematics - Maneesh took a loan of ₹ 9,00,800 from bank at an interest rate of 6% per annum for 10 years. If she has to pay the loan back with the help of equal monthly installments (EMI). Then, the EMI using reduced balance method is (approx): [Given: (1.005)^-120=0.5496] | PYQs + Solutions

CUET Mathematics 2025 2 June Shift 1

Statistics & Applications

Medium

applied

₹ 12,000

₹ 9,000

₹ 10,000

₹ 9,820

✅ Correct Option: 3

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Ajesh has set up a sinking fund in order to have ₹ 10,00,000 after 10 years for his son's education. The amount should be set aside at the end of every 6 months into an account paying 5% per annum compounded half yearly is: [given $(1.025)^{20} = 1.6386$ ]

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A person wishes to purchase a house for ₹ 30,65,000 with a down payment of ₹ 5,00,000 and balance in equal monthly installments (EMI) for 25 years. If bank charges 6% per annum (compounded monthly), then EMI on reducing balance payment method is:

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CUET Mathematics 2025 2 June Shift 1 PYQs

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