A loan of Rs. 60,000 is taken at an annual interest rate of 12% calculated on the reducing balance. It is to be repaid in 10 equal monthly installments. (a) What is the value of one installment of the principal loan amount? (b) How many month units does the loan period consist of? (c) Calculate the total interest to be paid. (d) What is the value of one monthly installment?

A refrigerator worth Rs. 40,000 is purchased with a down payment of Rs. 10,000. The rest is paid in 20 equal monthly installments with an annual interest rate of 18% on the reducing balance. Find the value of a monthly installment.

A television priced at Rs. 50,000 is sold on an installment plan with a down payment of Rs. 8,000. The rest is paid in 12 monthly installments of Rs. 4,000 each. Find the annual interest rate charged on the reducing balance.

Nimal takes a loan of Rs. 20,000 at an annual simple interest rate of 10%. Kamal takes a loan of Rs. 20,000 at an annual compound interest rate of 10%. Calculate the total amount each has to repay after 2 years.

Find the total amount to be paid to settle a loan of Rs. 100,000 in 3 years at an annual compound interest rate of 8%.

An item is purchased for Rs. 24,000. A down payment of Rs. 4,000 is made, and the balance is paid in 10 equal monthly installments. If the value of an installment is Rs. 2,300, calculate the annual interest rate on the reducing balance.

A person deposits Rs. 50,000 in a bank that pays an annual interest of 6% compounded semi-annually (every six months). How much money will be in the account at the end of one year?

What is the difference in the interest earned on Rs. 80,000 for one year if it is invested at 12% per annum simple interest versus 12% per annum compounded quarterly?

A loan of Rs. 120,000 is to be repaid over 2 years in equal monthly installments. The interest is calculated on the reducing balance at an annual rate of 24%. Calculate the value of a monthly installment.

If the compound interest on a certain sum for 2 years at 5% per annum is Rs. 410, what is the principal amount?

A person borrows Rs. 30,000 and agrees to pay it back in 6 monthly installments. The interest is charged at a monthly rate of 2% on the reducing balance. Calculate the total amount he repays.

A washing machine costs Rs. 60,000. It can be bought with a down payment of 25% and the remaining amount paid in 15 installments. If the annual interest rate on the reducing balance is 15%, find the value of an installment.

To settle a loan of Rs. 10,000 in 2 years, a person pays Rs. 12,100. What is the annual compound interest rate?

A government servant is eligible for a loan of Rs. 500,000 at an annual interest rate of 4.8% on the reducing balance, to be paid over 5 years. Find the monthly installment.

Compare the total interest paid for a loan of Rs. 48,000 over one year at an annual rate of 12% under (a) simple interest and (b) interest on the reducing balance paid in 12 monthly installments.