# How to calculate emi plz help

rohit chadha (accountant)     08 November 2013

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HOW TO CALCULATE LOAN EMI WITH INTERST

PRINCIPAL 100000/-

RATE 10%

DURATION 15 YEARS

KINDLY SOLVE WITH EASY DETAIL Sandeep Garg (Consolidation and IndAS Application)     08 November 2013

##### Sandeep Garg
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For the given parameters EMI for 15 years would be Rs. 1074.61

Same can be calculated by using PPMT and IPMT formula in excel

Thanks CA Suraj Lakhotia (IndigoLearn)     08 November 2013

##### CA Suraj Lakhotia
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you can also use www.emicalculator.net rohit chadha (accountant)     08 November 2013

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but sir , let me know how solve this ? Sandeep Garg (Consolidation and IndAS Application)     08 November 2013

##### Sandeep Garg
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EMI calculator attached for your reference. rohit chadha (accountant)     08 November 2013

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thanx sir but i want to solve this practicaly rohit chadha (accountant)     08 November 2013

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without any formula in excel or without any software Krishna Teja (Chartered Accountant)     08 November 2013

##### Krishna Teja
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EMI= Principal / Present value annuity Factor (r,n)

so here EMI=100000 / PVAF(10%,15y)=100000/7.6061=Rs 13,147

So emi is Rs 13147 Siddhartha (Student Audit Assistant)     08 November 2013

##### Siddhartha
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 Originally posted by : krishna teja EMI= Principal / Present value annuity Factor (r,n)   so here EMI=100000 / PVAF(10%,15y)=100000/7.6061=Rs 13,147   So emi is Rs 13147 The amount calculated above is called Equated Annual Installment (EAI) not Equated monthly Installment (EMI) Deepak Gupta (CA Student)     08 November 2013

##### Deepak Gupta
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CALCULATING EQUATED MONTHLY INSTALLMENT (EMI)
.
In house finance, equated monthly installment (EMI) refers to the monthly payment towards interest and principal made by a borrower to a lender. EMI is calulated using a formula that considers loan amount, interest rate, and loan period as variables.
.
The formula for calculating EMI:
EMI = (L × I) × [(1 + I)^N  ÷ {(1 + I)^N } -1]
.
Where
L = loan amount
l = interest rate per annum divided by 12
^ = to the power of
N = loan period in months
.
Assuming a loan of Rs. 1 lakh at 9 % per annum, repayable in 15 years, the EMI calculation using the formula will be:
EMI = (1,00,000 × 0.0075) × [(1 + 0.0075) 180  ÷ {(1+0.0075) 180} - 1]
= 750 × [3.838 ÷ 2.838]
= 750 × 1.35236
= 1,014

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