CUET · MATHS · PYQ PAPER 2025
Which of the following are correct about equated monthly installments (EMI)?
(A) The EMI depends on principal borrowed, rate of interest and tenure of the loan.
(B) It is a fixed amount made by borrower to the lender every month.
(C) The interest remains constant for every EMI in reducing balance method.
(D) As we pay off our loan, the outstanding principal amount decreases with every EMI in reducing balance method.
Choose the correct answer from the options given below :
- A (A), (B) and (C) only
- B (A), (B) and (D) only
- C (A), (B), (C) and (D)
- D (C) and (D) only
Answer & Solution
Correct Answer
(B) (A), (B) and (D) only
Step-by-step Solution
Detailed explanation
(A) Correct (B) Correct (C) Incorrect (D) Correct The correct answer is (A), (B) and (D) only.
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