Loan=Rs2230000, Rate of interest=6.75(SI), Time=28years. EMI=?

Discussion in 'IIBF JAIIB CAIIB' started by Nitin Choudhary, Oct 1, 2017.

  1. Nitin Choudhary

    Nitin Choudhary New Member

    Loan=Rs2230000, Rate of interest=6.75(SI), Time=28years. EMI=?
     
    Nitin Choudhary, Oct 1, 2017
    #1
  2. Nitin Choudhary

    Nitin Choudhary New Member

    Multiply no of instalments by 3/4. In your case 28 Yeats means 28*12=336. Now multiply 336 by 3/4, you will get 252. Now divide loan amt by 252. Means 2230000 divided by 252 you will get emi for principle portion but for interest portion it will be more than double the emi of principle
     
    Nitin Choudhary, Oct 2, 2017
    #2
  3. Pragya Srivastava

    Pragya Srivastava Member

    12543.75rs emi for 28 years... at simple interest 6.75% 14790rs per month for 28 years if normal emi is taken..if its staff hl.. then funded interest mode should be taken
     
    Pragya Srivastava, Oct 2, 2017
    #3
  4. Aditya Pathak

    Aditya Pathak New Member

    Sir pls explain how to calculate.. I mean is it simply pnr/100method or different
     
    Aditya Pathak, Oct 2, 2017
    #4
  5. Kartikey Yadav

    Kartikey Yadav New Member

    @Aman Dixit ok j mai pnb mai hu that's why i thought
     
    Kartikey Yadav, Oct 2, 2017
    #5
  6. Kshitiz Agrawal

    Kshitiz Agrawal New Member

    Bhai 30year ka hota hai jisma 240month principal and120month interest ka part hota hai
     
    Kshitiz Agrawal, Oct 2, 2017
    #6
  7. Nitin Choudhary

    Nitin Choudhary New Member

    Multiply no of instalments by 3/4. In your case 28 Yeats means 28*12=336. Now multiply 336 by 3/4, you will get 252. Now divide loan amt by 252. Means 2230000 divided by 252 you will get emi for principle portion but for interest portion it will be more than double the emi of principle
     
    Nitin Choudhary, Oct 2, 2017
    #7
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