Computer · Valuation and Sinking Fund
A pumping set with a motor has been installed in a building at a cost of ₹2,500. Assuming the useful life of the pump is 15 years, find the annual instalment of the sinking fund required to be deposited to accumulate the whole amount at 4% compound interest.
- 1₹145
- 2₹135
- 3₹125✓
- 4₹130
Correct answer
₹125
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