Ram took a home loan of ₹ 45,00,000 at the rate of 6% per annum for 25 years. His EMI by using flat rate method is Option 1: ₹ 37,500 Option 2: ₹ 42,000 Option 3: ₹ 30,725 Option 4: ₹ 27,500

Answer: ₹ 37,500. Solution: Flat rate interest is 4500000x 0.06x 25=₹6750000. Total repayment is ₹11250000 over 25x 12=300 months, so the EMI is 11250000/300=₹37500.

Statistics & Applications

Financial Math

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Ram took a home loan of ₹ 45,00,000 at the rate of 6% per annum for 25 years. His EMI by using flat rate method is

₹ 37,500

₹ 42,000

₹ 30,725

₹ 27,500

✅ Correct Option: 1

Flat rate interest is $4500000\times 0.06\times 25=₹6750000$ . Total repayment is $₹11250000$ over $25\times 12=300$ months, so the EMI is $\frac{11250000}{300}=₹37500$ .

2025: 30 May Shift 2

The effective rate of return equivalent to a nominal rate of 12% per annum compounded quarterly is: [Given that: $(1.03)^4 ≈ 1.1255$ ]

2025: 22 May Shift 1

Which one of the following statement is incorrect about sinking fund?

2026: 21 May Shift 1

A bond is not characterized by which of the following terms?

(A) Face value

(B) Coupon rate

(D) Equated monthly installment.

Choose the correct answer from the options given below:

2026: 18 May Shift 2

If the cash equivalent of a perpetuity of ₹ 300 payable at the end of each quarter is ₹ 24,000, then the rate of interest per annum is:

2025: 15 May Shift 1

Which of the following is not the specification of the Sinking Fund?

2025: 29 May Shift 2

A trust invites a deposit of lumpsum amount from individual so that annual scholarship of Rs.5000 is paid. Rate of interest is 5% per annum. If the scholarship is to start at the end of this year then the amount needed to deposit to Trust is:

Ram took a home loan of ₹ 45,00,000 at the rate of 6% per annum for 25 years. His EMI by using flat rate method is

Solution

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