CUET Preparation Today
Let $P, I$ and $n$ be the principal of the loan, the total interest on the principal and number of months in the loan period respectively, then the EMI by Flat Rate Method is: |
$\frac{P}{I+n}$ $\frac{P+I}{n}$ $P+\frac{I}{n}$ $\frac{I-P}{n}$ |
$\frac{P+I}{n}$ |
The correct answer is Option (2) → $\frac{P+I}{n}$ Total amount to be repaid $=P+I$ Number of months $=n$ So EMI by flat rate method $=\frac{P+I}{n}$ |
