Bhola takes a loan of ₹5 lakh with 10%

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Target Exam

CUET

Subject

-- Mathematics - Section B2

Chapter

Financial Mathematics

Question:

Bhola takes a loan of ₹5 lakh with 10% annual interest rate for 5 years. The EMI under flat rate system is:

Options:

2000

20000

1250

12500

Correct Answer:

2000

Explanation:

The correct answer is Option () -