Which category of functions is used in the formula of PMT?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Financial
PMT works out the equal periodic payment (instalment) needed to repay a loan from the interest rate, the number of payments and the loan amount. Functions that deal with interest, loans, annuities and depreciation belong to the Financial category of spreadsheet functions.
NCERT (2026-27 edition):
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