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If Mr. Ravi borrows a sum of ₹ 1,50,000 at an interest rate of 10% (flat) for a tenure of 3 years, then his EMI based on above data is (approximately) ₹ :

Solution

✅ Correct Option: 4

Total interest =P×r×t=1,50,000×0.10×3=₹45,000= P \times r \times t = 1,50,000 \times 0.10 \times 3 = ₹45,000.

Total amount =1,95,000= 1,95,000.

EMI =1,95,00036≈₹5417= \frac{1,95,000}{36} \approx ₹5417.

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