Question
Download Solution PDFA-water pump is installed in a building at a cost of Rs. 2,500/-. The life of the pump is 15 years. The annual fund required to be deposited to accumulate the whole amount is _______(take capital recovery factor as 0.05)
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFConcept:
\(Anual\;sinking\;fund = Principal × (Capital \: Recovery\: Factor \ or \:Sinking\: factor )\)
\(\)\(Anual\;sinking\;fund = Principal × \frac{i}{{{{\left( {1 + i} \right)}^n} - 1}}\)
Calculation:
Given;
n = 15
Principal (C.P) = 2500
Capital Recovery factor = 5% = 0.05
Annual Sinking Fund = 2500 × 0.05 = Rs. 125
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