Solved UPSC CDS/OTA Question
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Q · InstallmentsModerate · 45s
₹1,20,000 is repaid by equal **quarterly** installments of ₹17,500 at 10.5% p.a. (quarterly comp.). How many installments (approx)?
TopicInstallments
Question Typemultiple choice
DifficultyModerate
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained — no skipped algebra.
n ≈ −ln(1−Pi/A)/ln(1+i), i=0.105/4 ⇒ 7.7 quarters.
Final Answer: Option A — 8 quarters