Mrs. Shivani takes a loan of ₹ 10,00,000 with a 10\% annual rate of interest for 5 years. The EMI under the flat rate system is: - Mathematics MCQ Mathematics Mock Test - 4 2026 | ExamTest.live

mediumMCQMathematics Mock Test - 42026Mathematics

1 attempts100% success rate1 mark

Mrs. Shivani takes a loan of ₹10, 00, 000 with a 10% annual rate of interest for 5 years. The EMI under the flat rate system is:

Solution & Step-by-step Explanation

Under the Flat Rate Method:Total Interest (I) = P \times R \times T P = 10, 00, 000 R = 10% = 0.10 T = 5 years I = 10, 00, 000 \times 0.10 \times 5 = 5, 00, 000 Total amount to be paid = P + I = 10, 00, 000 + 5, 00, 000 = 15, 00, 000 Total number of months (n) = 5 \times 12 = 60 months EM I = \frac{P + I}{n} = \frac{15 , 00 , 000}{60} = 25, 000 The EMI is ₹25, 000 .

Try it yourself before checking the explanation above.

Mrs. Shivani takes a loan of ₹10, 00, 000 with a 10% annual rate of interest for 5 years. The EMI under the flat rate system is:

₹25, 000

₹24, 000

₹23, 000

₹22, 000

Practice with timed mock tests and track your performance across Mathematics.