alleryStart learning →A Rs 100,000 loan at 12% a year has a first EMI of Rs 10,000. Balance after it?
ARs 90,000
BRs 99,000
CRs 89,000
DRs 91,000
Answer & Solution
Correct answer: D. Rs 91,000
Interest is 1,000, so principal repaid is 9,000 and the balance is Rs 91,000.
Keep practising Time Value of Money
Browse all Time Value of Money questions for CA Foundation, or explore more Quantitative Aptitude topics.
Related questions
CAGR is used for annualized growth of economic data such as?Forecasting with CAGR multiplies the last value by what, once per year?CAGR is a good method to compare which of the following over several years?CAGR smooths the effect of what in periodic values?CAGR represents the mean ___ growth rate of compounding values.A loan whose every payment covers interest and principal is called?In Indian banking usage, EMI stands for?In the EMI formula, a 12% annual rate is used monthly as?