CUET Preparation Today
The EMI on a loan of amount Rs. P at a rate of i% per period for n periods is computed by: |
$\frac{P}{1-(1+i)^{-n}}$ $\frac{P . i}{1-(1+i)^{-n}}$ $\frac{P}{1-(1+i)^{n}}$ $\frac{P . i}{1-(1+i)^{n}}$ |
$\frac{P . i}{1-(1+i)^{-n}}$ |
The correct answer is Option (2) → $\frac{P . i}{1-(1+i)^{-n}}$ $\text{EMI} = P \cdot \frac{r(1+r)^n}{(1+r)^n - 1}$ $\text{where } r = \frac{i}{100}$ $\text{EMI formula: } P \cdot \frac{r(1+r)^n}{(1+r)^n - 1}$ |
