Paper I · 16 Logical Reasoning, Analytical Ability & Data Interpretation · 16.3 Percentages and commercial arithmetic

16.3.9 Instalments: equal payments under simple and compound interest

An instalment plan is fair when all payments, moved to one common date at the given rate, equal the debt moved to that same date: the due date for simple interest, today for compound interest.

  • TGPSC MPSO / ASO · Paper I
  • Standard level
  • 5 min read
  • Full course

Key terms

  • instalments
  • equal annual instalments
  • present value
  • simple interest instalments
  • compound interest instalments
  • down payment
  • hire purchase
  • debt due

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Common trapsFoundation
  5. Quick revisionFoundation

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