Solved UPSC CDS/OTA Question
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Q · InstallmentsDifficult · 45s
₹4,20,000 is repaid by 36 equal EMIs of ₹19,500 (monthly comp.). Find the annual rate (approx).
TopicInstallments
Question Typemultiple choice
DifficultyDifficult
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained - no skipped algebra.
Solving A = P·i/(1−(1+i)^−n) with i=r/12 gives r ≈ 35.0% p.a.
Final Answer: Option A - 35.0%