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Corporate Finance · Quiz 1 · 26 Oct 2025 · September 2025 term

Question 19: Manish runs a private school in his town. He wants to st…

Question 19

+4 marksOne correct option

Manish runs a private school in his town. He wants to start a bus service for the students. He goes to the bank and asks for a loan of Rs 8,00,000. The bank official tells him that the loan will have a monthly interest rate of 3% for 10 years. What would be the equated monthly instalment (EMI) that he will be paying each month for the next 10 years, beginning next month (Round off to nearest integer)?

  1. A

    Rs 12,000

  2. B

    Rs 22,746

  3. C

    Rs 24,711

  4. D

    Rs 28,437

Show answer

Correct answer

  • C

    Rs 24,711

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Question 19 of 25 in the IIT Madras BS Corporate Finance (Corporate Finance) Quiz 1 paper sat on 26 Oct 2025, in the September 2025 term (IIT M DEGREE AN EXAM QDB2 26 Oct 2025). It carries 4 marks.

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