CUET Mathematics - 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: [Given (1.005)^300 = 4.465] | PYQs + Solutions

CUET Mathematics 2025 14 May Shift 1

Statistics & Applications

Medium

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₹ 22325

₹ 30542

₹ 21652

₹ 34500

✅ Correct Option: 1

Related questions:

13 May Shift 1

Mr. 'X' wishes to purchase a house for ₹ 49,65,000 with a down payment of ₹ 15,00,000 and balance amount in EMI for 25 years. If bank charges 6% per annum compounded monthly. Then the EMI is: [Given that $(1.005)^{300} = 4.4650]$

16 May Shift 1

The fund created to accumulate money over the years to discharge a future obligation is known as:

14 May Shift 1

Which of the following are correct about the Sinking Fund?

(A) It is a fixed term account.

(B) It is a set-up for a particular upcoming expense.

(D) It can be used in any emergency.

Choose the correct answer from the options given below:

CUET Mathematics 2025 14 May Shift 1 PYQs

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