Which of the following are correct about equated monthly installments (EMI)? (A) The EMI depends on principal borrowed, rate of interest and tenure…
CUET UG 2025 — Mathematics Statistics & Applications
Which of the following are correct about equated monthly installments (EMI)?
(A) The EMI depends on principal borrowed, rate of interest and tenure of the loan.
(B) It is a fixed amount made by borrower to the lender every month.
(C) The interest remains constant for every EMI in reducing balance method.
(D) As we pay off our loan, the outstanding principal amount decreases with every EMI in reducing balance method.
Choose the correct answer from the options given below:
Held on 15 May 2025 · Verified 13 Jul 2026.
Options
- A
(A), (B) and (C) only
- B
(A), (B) and (D) only
- C
(A), (B), (C) and (D)
- D
(C) and (D) only
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