Question

2. According to the illustration, when you increase EMI by Rs.2000/- for a loan amount of Rs. 40 Lakh for 216 months, you will save Rs.9.3 lakh. Why does this happen?

a) It effects the outstanding loan amount directly.

b) The tenure gets reduced from 216 months to 191.

c) It reduced the interest rate directly.

d) Bank offers bonus to a customer.​

Answer 1

Answer:

The tenure gets reduced from 216 months to 191.

Step-by-step explanation:

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