CUET Mathematics - Choose the correct statement about Sinking Fund? | PYQs + Solutions

CUET Mathematics 2025 3 June Shift 2

Statistics & Applications

Medium

applied

It is a long term account which can be closed any time.

It does not have any specific purpose.

In this fund, a fixed amount at regular intervals is deposited for a fixed terms

It can be used in any emergency.

✅ Correct Option: 3

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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: $(1.005)^{-120}=0.5496$ ]

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CUET Mathematics 2025 3 June Shift 2 PYQs

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