CUET · MATHS · PYQ PAPER 2025
Anush takes a loan of ₹ \( 150000\) @ \(16 \%\) annual interest for 5 years. His EMI (Equally Monthly Installmant) on monthly basis under flat rate system is :
- A ₹ \(4500\)
- B ₹ 5000
- C ₹ 4800
- D ₹ \(5400\)
Answer & Solution
Correct Answer
(A) ₹ \(4500\)
Step-by-step Solution
Detailed explanation
Total Interest \( = 150000 \times 0.16 \times 5 = 120000 \) Total Amount \( = 150000 + 120000 = 270000 \) EMI \( = \frac{270000}{5 \times 12} = \frac{270000}{60} = 4500 \)
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