Annual installment will discharge

Madhukar worked for 5 years in a multi-commodity trading company after graduating from a reputed B-School. He then resigned from his job and started an online garment export business. For his business Madhukar used Rs.

Meanwhile, RBI eased the repo rate in May and banks passed on the benefits to the borrowers. As a result, Madhukar borrowed an additional Rs.

If the total interest paid by Madhukarat at the end of that year on both the loans is Rs. A sum of money borrowed is to be returned in two equal annual installments of Rs. A person borrows Rs. Then each instalment in rupees is.

Rekha borrowed a sum of Rs. At the end of first year, she repays a sum of Rs. What amount should she pay at the end of third year to discharge the loan? What annual installment approx will discharge a debt of Rs. A sum of Rs. This is to be paid back in two equal instalments.

Ramesh takes a loan of Rs. He agrees to pay three equal installments in three years, one installment at the end of every year. Find the value of each installment approx. A scooter toy is sold for Rs cash or Rs 40 cash down payment followed by Rs 62 after a month.

Find the rate of interest charged under the installment plan. What annual instalment will discharge a debt of Rs. The rate of interest charged is:. More Interest Questions Q1. What is the annual rate of interest?

A certain sum of money becomes three times of itself in 8 years at simple interest. In how many years will it become five times of itself? The difference between simple interest on a certain sum at the annual rate of 11 percent for 8 years and 9 years is Rs. What is the sum? What is the compound interest on a principal of Rs. A principal of Rs. What is the rate of interest?. The simple interest received on a certain sum is Rs. What will be the simple interest on the same at the same rate of interest for 10 years?

Similarly 2nd, 3rd, 4th instalment will be equal to Rs. Solution 2. After one year, the principal will be reduced to x. After 2 years, the principal will be x. Subsequent installments shall be paid as soon as is reasonably practicable following each anniversary of the Payment Commencement Date. The EMI amount is calculated by adding the total principal of the loan and the total interest on the principal together, then dividing the sum by the number of EMI payments, which is the number of months during the loan term.

Installments Under Simple Interest This will be equal to the total interest charged for n months i. Table of Contents.