hii everyone can any1 tell me hw to calculate emi for a

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hii.everyone..can any1 tell me hw to calculate emi for a bike priced at 120000. At 15 % rate of interest after a downpayment of 45000....plz plz as i thnk we hav to sub.45000 from 120000..nd then..... plz help
  • 2038 day(s) ago by Adeel
Under:   #Bikes
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Hi,
Calculation could be like this
120000-45000= 75000
Total interest for 24 Months at 15%
75000*0.15=11250
11250/24=468.75 (app 469)
Total interest per month on flat rate would be Rs 469.
Principal amount per month =75000/24=3125 Rs
EMI= Principal amt+interest
EMI= 3125+469=3594 Rs

(EMI can very depending upon method of interest rate applicable by finance provider bank, please compare with the quote given by finance provider)
 

Posted: 2038 day(s) ago


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