Meesha takes a loan of ₹ 3,00,000 at an interest of 8% annually for a period of n years. If her monthly EMI using flat rate method is ₹ 7,000, then the number of installments:
Meesha takes a loan of ₹ 3,00,000 at an interest of 8% annually for a period of n years. If her monthly EMI using flat rate method is ₹ 7,000, then the number of installments:
Solution
✅ Correct Option: 2
Flat rate interest .
EMI gives .
So years and the number of monthly installments is .
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