Statistics & Applications

Financial Math

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applied

Rama takes a personal loan for a car worth ₹5,00,000 at an interest rate of 7% per annum to be repaid by equal monthly instalments (EMI) in 5 years. Using flat rate method, EMI will be:-

₹13,500

₹11,250

₹12,150

₹11,520

✅ Correct Option: 2

Flat rate interest $=500000\times0.07\times5=175000$ . Total repayable $=675000$ over $60$ months, so EMI $=\dfrac{675000}{60}=11250$ .

2025: 22 May Shift 1

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

2025: 19 May Shift 1

The value of a depreciable asset at the end of its useful life is called ____.

2026: 19 May Shift 2

Amit invested ₹ 25,000 in a no-fee fund. After one year, the value of the fund rose to ₹ 30,000 then the nominal rate of return on the investment is

2026: 18 May Shift 2

A lady invested ₹ 10,000 in a mutual fund and the value of investment at the time of redemption was ₹ 20,000. If the compound annual growth rate (CAGR) for this investment is 25.9 %, then the number of years for which she has invested the amount is:-

[Given that : $2^{1/3}\approx 1.259$ ]

2025: 3 June Shift 1

Match List-I with List-II

List-I	List-II
(A) Perpetuity	(I) A person deposits a fixed amount every year in his bank account to renovate his house after 10 yrs.
(B) EMI	(II) A person depositis an amount regularly in his bank account and withdraws in case of need.
(C) Sinking Fund	(III) A fixed amount is debited from the bank account of a person, every month, against a personal loan.
(D) Saving Account	(IV) A person purchased a house and rents it out.

Choose the correct answer from the options given below:

2026: 25 May Shift 1

A money-lender charges interest at the rate of 10 rupees per 110 rupees semi-annually, payable in advance. Then

Match the LIST-I with LIST-II

LIST-I	LIST-II
A. rate per conversion period ( $i$ )	I. 2
B. nominal rate (r)%	II. 21
C. number of period in a year (m)	III. 20
D. effective rate of interest ( $r_e$ )%	IV. 0.1

Choose the correct answer from the options given below:

Rama takes a personal loan for a car worth ₹5,00,000 at an interest rate of 7% per annum to be repaid by equal monthly instalments (EMI) in 5 years. Using flat rate method, EMI will be:-

Solution

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