In Excel, which function is used to calculate the payment for a loan based on constant payments and interest rate, but for a given number of periods? MCQ with Answer and Explanation

Question

In Excel, which function is used to calculate the payment for a loan based on constant payments and interest rate, but for a given number of periods?

A. PMT

B. PV

C. NPER

D. RATE

Answer: Option A

Solution (By JKSSB Mock Tests)

PMT calculates the periodic payment. NPER calculates number of periods, PV present value, RATE interest rate.

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In MS Word, which of the following refers to a customizable toolbar that appears near the mouse cursor when text is selected, offering quick access to formatting options?

A. Task Pane menu

B. Mini Toolbar

C. Quick Access Toolbar

D. Status Ribbon Layout

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Correct Answer: Option B

Explanation:
The Mini Toolbar is a compact formatting popup that appears automatically near the cursor after a text selection, providing quick access to common styling options.

This question belongs to: Computer Microsoft Office