A loan of Rs. 50,000 has EMI of Rs. 5500. What is the interest component of first payment. Rate of interest is 12% p.a.

Rs. 5,000

Rs. 4,500

Rs. 5,500

Can't say because the tenure of the loan is not given

IN THIS QSN LOAN AMOUNT SHOULD BE 500000 INSTEAD OF 50000

Rs. 5,000

Rs. 4,500

Rs. 5,500

Can't say because the tenure of the loan is not given

IN THIS QSN LOAN AMOUNT SHOULD BE 500000 INSTEAD OF 50000

Aug 22 2012 04:36 PM

Yes, you're right. The loan amount should be 5 lacs. We'll correct it. However, if you get question like, what would be the principal amount of the first payment, the answer would be Rs. 5000.

Sep 04 2012 02:09 PM