Question

CLASS 11 -INFORMATICS PRACTICES

1. Write a Python program to calculate EMI for amount,period and interest.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal,

R is the interest rate per and N is the number of monthly instalments.

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Answer 1

Answer:

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Answer 2

Answer:

Python program that takes input for the loan amount, interest rate per month, and the number of monthly instalments, and then calculates the equated monthly instalment (EMI) using the formula EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Explanation:

Python program that takes input for the loan amount, interest rate per month, and the number of monthly instalments, and then calculates the equated monthly instalment (EMI) using the formula EMI = [P x R x (1+R)^N]/[(1+R)^N-1]:
#taking input for loan amount

P = float(input("Enter the loan amount: "))

#taking input for interest rate per month

R = float(input("Enter the interest rate per month: "))

#taking input for number of monthly instalments

N = int(input("Enter the number of monthly instalments: "))

#calculating EMI

emi = (P * R * ((1+R)**N))/(((1+R)**N)-1)

#printing the EMI

print("The equated monthly instalment (EMI) is:", round(emi, 2))

In this program, we first take the input for the loan amount, interest rate per month, and the number of monthly instalments using the input() function. We then calculate the EMI using the formula and assign it to the emi variable. Finally, we use the print() function to display the calculated EMI value rounded off to two decimal places.

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