Solved UPSC CDS/OTA Question
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Q · InstallmentsDifficult · 45s
For a ₹8,00,000 loan at 10.5% p.a., what's the **maximum term** (in months) so that EMI ≤ ₹8,500? (monthly comp., 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.
n ≈ −ln(1−Pi/A)/ln(1+i) with i=0.105/12 ⇒ n ≈ 199.1 months.
Final Answer: Option A — 199 months