Practicing Success

Target Exam

CUET

Subject

-- Mathematics - Section B2

Chapter

Financial Mathematics

Question:

Mr. X takes a loan of ₹2,00,000 with 10% annual interest rate for n years with  EMI ₹5,000 at flat rate. Value of 'n' is :

Options:

5 years

6 years

4 years

3 years

Correct Answer:

5 years