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Mrs. Soma takes a loan of ₹ 5,00,000 with 10% annual interest rate for 5 years. What will be her EMI under flat rate system?

Solution

✅ Correct Option: 3

Flat-rate interest =500000×0.10×5=250000= 500000 \times 0.10 \times 5 = 250000. Total repayable is 750000 over 60 months, so EMI =75000060=12500= \frac{750000}{60} = 12500.

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