CUET Mathematics - Mr. Mittal invested Rs. 20,000 in a mutual fund in the year 2019. The value of the mutual fund increased to Rs. 32,000 in the year 2024. The compound annual growth rate of his investment is: [Given (1.6)^1/5 = 1.098] | PYQs + Solutions

CUET Mathematics 2025 19 May Shift 1

Statistics & Applications

Medium

applied

8.5%

10%

9.8%

9.1%

✅ Correct Option: 3

Related questions:

2 June Shift 1

A machine costing ₹ 3,00,000 will have its scrap value of ₹ 50,000. The company at present plans to put ₹ 36,650 per annum at the end of each year in a sinking fund at the rate 5% per annum for the replacement of the machine after its useful life. Suppose the new machine will cost ₹ 4,00,000 at that time, then the useful life (approx.) of the machine is : [Given: $(1.4775)^{1/8} = 1.05$ ]

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CUET Mathematics 2025 19 May Shift 1 PYQs

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