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CUET · MATHS · PYQ PAPER 2025

Anshu takes a personal loan of ₹\(10,00,000\) at the rate of \(12\%\) per annum for 2 years, then the EMI by using flat rate method is

  1. A ₹ 51,666.67
  2. B ₹ 52,666.67
  3. C ₹ 50,666.67
  4. D ₹ 53,666.67
Verified Solution

Answer & Solution

Correct Answer

(A) ₹ 51,666.67

Step-by-step Solution

Detailed explanation

Total Interest \( = P \times R \times T \) \( = 10,00,000 \times 0.12 \times 2 \) = ₹ \(2,40,000 \) Total Amount to be repaid \( = P + \text{Total Interest} \) \( = 10,00,000 + 2,40,000 \) = ₹ \(12,40,000 \) Number of months \( = 2 \times 12 = 24 \) EMI…