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SSC CHSL 2019 PYQ — Question 46

SSC CHSL - 2nd July 2019 - Shift 1 • General Awareness • Q46

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Which of the following terms refers to the running down or payment of a loan in installments?

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Correct answer: C

Explanation

The correct answer is option 3 i.e. Amortisation.

The running down or payment of a loan in installments

Amortisation

What is Amortisation?
  • In business, amortization refers to spreading payments over multiple periods.
  • The term is used for two separate processes: amortization of loans and amortization of assets.