Installments
Installments is a Aptitude concept from the MPSC syllabus, tested in 2 past MPSC questions (2017, 2024). Below are those real questions with their correct answers and explanations.
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एका मुद्दल रकमेवर द.सा.द.शे. 10 टक्के दराने 2 वर्षाचे चक्रवाढ व्याज ₹ 945 होते तर मुद्दलाची रक्कम किती असेल? What is the principal amount, if the amount of compound interest on it at 10% p.c.p.a. for 2 years is ₹ 945?
Using the formula for compound interest over 2 years: CI = P * [(1 + r/100)² - 1]. Substituting r = 10% and CI = 945 gives P = ₹ 4500.
सुनील ने द.सा.द.शे. 12.5 दराने ₹ 16,000, 3 वर्षाच्या मुदतीने विहिरीवर पंप बसविण्यासाठी चक्रवाढ व्याजाने कर्ज घेतले. हेच कर्ज जर सरळ व्याजाने घेतले असते, तर दोन्ही प्रकारच्या व्याजात किती फरक पडला असता ? In order to buy a lift pump for his well, Sunil borrowed ₹ 16,000 for 3 years at the rate of compound intrest of 12.5 p.c.p.a. What would have been the difference in the interest on this principal had he borrowed it at simple interest ?
Principal P = 16000, Time n = 3 years, Rate R = 12.5% (or 1/8). CI = P * (1 + 1/8)³ - P. SI = (P * R * T) / 100. The difference between CI and SI for 3 years is calculated as ₹ 781.25.