CUET Preparation Today
A person takes a car loan of ₹6,00,000 from a bank at an interest rate of 12% per annum for 4 years. The EMI under flat rate system is : |
₹16,550 ₹18,500 ₹20,000 ₹13,500 |
₹18,500 |
The correct answer is Option (2) → ₹18,500 $EMI=\frac{\text{Principal+Total Interest}}{\text{Number of months}}$ $=\frac{6,00,000+2,88,000}{48}=18,500$ |
