Harish takes a loan of ₹6,00,000 at an interest of 10% per annum compounded annually for a period of 5 years. His EMI using a flat rate method is:
Harish takes a loan of ₹6,00,000 at an interest of 10% per annum compounded annually for a period of 5 years. His EMI using a flat rate method is:
Solution
✅ Correct Option: 3
Flat rate interest .
Total repayable over months, so the EMI is .
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