Utkarsh purchased a laptop worth ₹80000. He paid 20000 as cash down and balance in equal monthly installments in 2 years. If bank charges 9% p.a. compounded monthly. Calculate the EMI.

(Given $(1.0075)^{24}=1.1964)$

$₹2741.24$

The correct answer is option (3) : $₹2741.24$

Cost of laptop $= ₹80000$

Cash payment $=₹20000$

Balance $=₹60000$

Given $P=₹60000$

$n=12×2=24\, months $

$i=\frac{9}{1200}=0.0075$

$∴EMI=\frac{60000×0.0075×(1.0075)^{24}}{(1.0075)^{24}-1}$

$=\frac{60000×0.0075×1.1964}{0.1964}$

$=₹2741.24$