With 8% pa. risk free rate compounding monthly what amount he has to save per month (BEGIN) in a debt fund?

Section C (4 Mark)

Read the senario and answer to the question.

Pallavi’s marriage is expected by the end of December, 2010 with an expected present cost of Rs. 24,00,000. He is expected to realize from his Tatanagar Flat 18, 00,000 by that time. Calculate what additional amount is required for his daughter’s marriage.

With 8% pa. risk free rate compounding monthly what amount he has to save per month (BEGIN) in a debt fund?
A . Rs. 2,27,367 Rs. 7,663
B . Rs. 3,83,365 Rs. 9,815
C . Rs. 4,12,245 Rs. 8,615
D . Rs. 3,45,458 Rs. 11,363

Answer: A