Question
Mathematics Question on Banking (Recurring Deposit Accounts)
A person takes a home loan of ₹1200000 from a bank at an interest rate of 12% per annum for 10 years. The EMI under flat rate system is.
A
₹22000
B
₹21000
C
₹20500
D
₹22500
Answer
₹22000
Explanation
Solution
The correct option is (A):₹22000