Question

If you took a loan of Rs 6,00,000 from a bank at 4% for 3 years and the interest is compounded annually, Find the EMI

Answer 1

Answer:

first solve it using formula P( 1+ R/100)^3

Answer will be

674918.4

then CI = A - P

CI = 674918.4 - 600000

Ans= 74918.4

Right?????