CUET Preparation Today
A person amortizes a loan of ₹150000 for a new home by obtaining a 10 year mortgage at the rate of 12% compounded monthly. Find EMI. |
₹2236.12 ₹2152.43 ₹2365.96 ₹2412.63 |
₹2152.43 |
The correct answer is option (2) : ₹2152.43 $P= ₹150000, i=\frac{12}{1200}=0.01, n =10× 12 = 120$ $EMI=\frac{P}{a_{\overline{n}/i}}=\frac{150000}{69.6891}$ $=₹2152.43$ |
