Statistics & Applications

Financial Math

Medium

applied

Let $P, I$ and $n$ be the principal of the loan, the total interest on the principal and number of months in the loan period respectively, then the EMI by Flat Rate Method is:

$\frac{P}{I+n}$

$\frac{P+I}{n}$

$P + \frac{I}{n}$

$\frac{I-P}{n}$

✅ Correct Option: 2

Solution Coming Soon

2025: 22 May Shift 1

Which one of the following statement is incorrect about sinking fund?

2025: 16 May Shift 1

Mr. X purchased a house from a company for ₹ 7,00,000 and made a down payment of ₹ 1,50,000. He repays the balance in 25 years by equal monthly installments at 9 % per annum compounded monthly. The equated monthly installment (EMI) is:

[Given that : (1.0075)⁻³⁰⁰ = 0.106]

2025: 13 May Shift 2

If $r_{eff}$ = effective rate of interest, $r$ = nominal rate of interest and $m$ = number of conversion periods per year, the relationship between nominal rate and effective rate of interest is:

2025: 15 May Shift 1

Which of the following is not the specification of the Sinking Fund?

2026: 29 May Shift 1

A machine costing ₹55,000 is expected to have a useful life of 10 years and a final scrap value of ₹5,000. The annual depreciation charge using the straight line method is :

2026: 22 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Nominal rate of return	(I) $EMI=\frac{Principal+Interest}{Period\ in\ months}$
(B) CAGR	(II) $\frac{Original\ value\ of\ the\ asset-Salvage\ value\ of\ the\ asset}{Useful\ life\ of\ the\ asset}$
(C) Flat rate method	(III) $\frac{Current\ market\ value\ of\ investment-Original\ investment\ value}{Original\ investment\ value}\times100$
(D) Annual depreciation	(IV) $\left(\frac{Investment\ at\ the\ end\ of\ investment\ period}{Investment\ at\ the\ beginning\ of\ the\ period}\right)^{\frac{1}{investment\ period}}-1$

Choose the correct answer from the options given below:

Let P,IP, IP,I and nnn be the principal of the loan, the total interest on the principal and number of months in the loan period respectively, then the EMI by Flat Rate Method is:

Solution

Related questions:

Keyboard Shortcuts

CUET Mathematics Past Year Questions (Topic-Wise)

Let $P, I$ and $n$ be the principal of the loan, the total interest on the principal and number of months in the loan period respectively, then the EMI by Flat Rate Method is: