Mathematics of FinancePYQ May 25Question 4161 of 479
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Dinesh received a cash bonus of ₹ 1,00,000 which he deposited in a bank which pays 10 percent interest compounded annually. How much approximate equal amount can Dinesh withdraw annually for a period of 10 years?[Given that (1.1)10=2.59374\displaystyle (1.1)^{10} = 2.59374]

Options

A₹ 16,273
B₹ 38,554
C₹ 62,745
D₹ 32,474
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Correct Answer

Option a₹ 16,273

All Options:

  • A₹ 16,273
  • B₹ 38,554
  • C₹ 62,745
  • D₹ 32,474

About This Chapter: Mathematics of Finance

Paper

Paper 3: Quantitative Aptitude

Weightage

12-16 Marks

Key Topics

Simple & Compound Interest, Annuity, Perpetuity

The most important mathematical chapter in the entire syllabus. It covers Simple Interest (SI), Compound Interest (CI), Nominal vs Effective rates, Present and Future Value, Annuities (Ordinary and Due), Sinking Funds, and Perpetuities. The concepts learned here are applied heavily in CA Intermediate and Final.

View Official ICAI Syllabus

Exam Strategy Tip

Guaranteed 12-16 marks. Master your calculator! Learn the 'GT' and compound interest M+/M- tricks to solve annuity questions in 10 seconds without writing long formulas.

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