Dathrri services
Hyderabad
The loan taking from banks or finance institutions is calculation of EMI for home, personal loans.
EMI= ( Equated monthly installment)
Calculation\quad of\quad EMI\\ Calculation\quad per\quad EMI=\frac { pr{ \left( 1+r \right) }^{ n } }{ { \left( 1+r \right) }^{ n\quad }-1 } \\ P=\quad Principle\quad amount\\ R=Rate\quad of\quad intresete\quad per\quad month\\ N=Tenure\quad in\quad months.\quad
Example Principal Amount =2,00,000/-
Rate of interest =9.5% pa
Tenure =24 months (2 years)
Method 1
Calculating = Principle amount X Interest/ 100
= 200000X9.5/100
=19000/-
I interest = 19000/1.819 (Divided by 1.819 )
=10445/-
Total amount = principle amount + Interest/ tenure
=200000+10445/24
EMI=Rs 8769/-
L.Manik Reddy
M.D
Dathrri services
EMI interlinkNew Microsoft Office Word Document