EMI P x R x 1RN 1RN-1 where P stands for the loan amount or principal R is the interest rate per month if the interest rate per annum is 11 then the rate of interest will be 11 12 x 100 and N is the number of monthly installments. The EMI would be 1549 or 500000 x 0035 x 1 0035 12120 12 x 1 003512120. The formula is as given below EMI P x R x 1RN 1RN-1 P stands for the loan amount or principal R is the interest rate per month.
EMI P x r x 1r n1rn-1 Where P Loan amount.
F P1infraci1in-1. F P1infraci1in-1. EMI is the equated monthly installment P is the principal or the amount that is borrowed as a loan R is the rate of interest that is levied on the loan amount the interest rate should be a monthly rate. Mathematical formula EMI P x R x 1RN 1R N-1 Where P Your loan amount R Rate of interest charged per month Ex16pa would be 133 pm.