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Class 10 > Learn Mathematics > What are the payments on a Rs. 40,000 loan repaid monthly...
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What are the payments on a Rs. 40,000 loan repaid monthly for six year (r = 7%)?

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SI= PRT/100 =40,000*7*72/1200. By Solving It. 16,800 RS. Amount = Si + Principal =16800+40000 = Rs. 56,800.
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Btech/BE Tutoring

Rs. 594.44 as monthly installment for 6 years.
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Simple interest is Rs. 16800 and total amount is Rs. 56800.
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Math Magician

As we know that SI= PRT/100 =40,000*7*72/1200. By Solving It. 16,800 RS. Amount = Si + Principal =16800+40000 = Rs. 56,800.
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Tutor

Rs. 233.3 per month for six years.
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Math Teacher

If calculated on simple interest you will have to pay Rs. 789 per month.
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VBA Expert

Rs. 49101.12.
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