List of top Mathematics Questions on Installments asked in CUET (UG)

Mr. Sanjay borrowed Rs.10,00,000 from a bank to purchase a car on reducing balance payment for a period of 10 years. If bank charges interest at 9% per annum compounded monthly and EMI is Rs.12,658 to be paid by him. Then principal outstanding after payment of 12th EMI is: (Use \( (1.0075)^{12 = 1.0938 \))}

A person buys a flat for which he makes down payment of ₹7,50,000 and the balance is to be paid in 10 years by monthly instalments of ₹22,000 each. If the bank charges interest at the rate of 12% per annum, then the actual price of the flat using flat rate system is: