Ravi borrowed Rs. 1,00,000 from a bank a

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Target Exam

CUET

Subject

-- Mathematics - Section B2

Chapter

Financial Mathematics

Question:

Ravi borrowed Rs. 1,00,000 from a bank at the rate of 10% per annum for 2 years, then EMI using flat rate method is:

Options:

₹ 5,000

₹ 4,500

₹ 6,000

₹ 5,500

Correct Answer:

₹ 5,000

Explanation:

The correct answer is Option (1) → ₹ 5,000