Page 104 - DECO402_MACROECONOMIC_THEORY_HINDI

lef"V&vFkZ'kkL=k osQ fl¼kar

uksV 1,21,000
Þ 1 + r = = 1.1
1,00,000

r = 0.10 = 10%
okLrfod thou esa izkfIr;k¡ iw¡thxr laifÙk osQ thou esa yxkrkj izkIr gksrh gSaA ekuk] visf{kr ok£"kd 'kq¼ izkfIr;ksa
dh Ük`a[kyk A , A , A , ................., A gS] tgk¡ vèkksfyf[kr o"kZ osQ izrhd gSaA P , P , P , ................., P
1 2 3 n 1 2 3 n
Øe'k% muosQ orZeku ewY; gSaA visf{kr ok£"kd 'kq¼ izkfIr;ksa dk oqQy orZeku ewY; P + P + P .................,
1 2 3 +
+ P gSA
n
A 1 A 2 A n
vFkok] PV = + 2 +............+ n
(1+ r) (1+ r) (1+ r)
;gk¡] PV dk vFkZ iw¡thxr laifÙk esa fuos'k ls visf{kr vk; osQ Hkkoh izokg osQ oqQy cfêðr orZeku ewY; ls gSA

A A A A
1 2 3 n
, , ,............,
(1+ r) (1+ r) 2 (1+ r) 3 (1+ r) n
vkfn ensa izFke o"kZ] f}rh; o"kZ] r`rh; o"kZ vkSj n osa o"kZ osQ var esa visf{kr vk; izokg izkI; (Lohdk;Z) osQ
orZeku ewY; dks izLrqr djrh gSA

vc] ,d egÙoiw.kZ iz'u mBrk gS fd D;k fuos'k ifj;kstuk esa gkFk Mkyuk pkfg, vFkok ughaA ;fn iw¡thxr
oLrqvksa dh ykxr izR;kf'kr izkfIr;ksa osQ oqQy orZeku ewY; ls de gS] fuos'k ifj;kstuk ykHkizn gksrh gSA ijarq]
;fn oLrq dh ykxr izkfIr;ksa osQ orZeku ewY; ls vfèkd gksrh gS] rks fuos'k esa gkFk ugha Mkyuk pkfg,A tc nksuksa
osQOky cjkcj gksrs gSa] fuos'k mnklhurk dk fo"k; cu tkrk gSA

mnkgj.k (Illustration)

5 o"kZ osQ vk£Fkd thou dk ,d ;a=k izR;sd o"kZ 1]000 #i, izkfIr nsrk gSA bldh orZeku ykxr 3]500 #i,
gS rFkk C;kt dh cktkj nj 12 izfr'kr gSA D;k bl ;a=k esa fuos'k djuk ykHkizn gS\
mÙkj

izR;kf'kr izkfIr;ksa dk orZeku ewY;

A 1 A 2 A 3 A 4 A 5
PV = + 2 + 3 + 4 + 5
(1+ r) (1+ r) (1+ r) (1+ r) (1+ r)

1,000 1,000 1,000 1,000 1,000
= + 2 + 3 + 4 + 5
+
+
+
+
+
(1 0.12) (1 0.12) (1 0.12) (1 0.12) (1 0.12)
1,000 + 1,000 + 1,000 + 1,000 + 1,000
= 2 3 4 5
(1.12) (1.12) (1.12) (1.12) (1.12)
= 892.86 + 797.20 + 711.78 + 635.52 + 567.43
= 3,604.79 #i,

98 LOVELY PROFESSIONAL UNIVERSITY