CUET Mathematics - Mohini purchases a house worth Rs. 50 lakhs and makes a down payment of Rs. 11.2 lakhs. She pays the remaining amount on monthly EMI using a reducing balance method. The bank charges 6% per annum compounded monthly for a tenure of 25 years. Her EMI is: [Given: (1.005)^300 0.224] | PYQs + Solutions

CUET Mathematics 2025 27 May Shift 1

Statistics & Applications

Medium

applied

Rs. 11200

Rs. 38800

Rs. 25000

Rs. 22400

✅ Correct Option: 3

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