A daily loan search — home, car, and phone EMIs in plain maths. This page has 100 important questions and answers. Original explainer for daily search — not a government login or live tracker.
EMI (Equated Monthly Instalment) is a fixed monthly payment that covers interest and principal on a reducing-balance loan. The usual formula is EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the principal, r is the monthly rate (annual rate ÷ 12 ÷ 100), and n is the number of months.
A 12% annual rate is 1% per month (0.01). Longer tenure shrinks the EMI but increases total interest. A processing fee is extra — it is not inside the pretty EMI a banner shows unless they say so.
Prepayment can cut interest; some loans charge a fee. This is education, not a loan offer. Use the lender’s official calculator for the number that will be auto-debited.
100 important questions. Quick 10 is a random set; Full set plays every question.
Your score
100 questions and answers
Each item is a 4-option MCQ. Open a question, tap A–D. Green is correct, red is wrong. Original explainers — not copied match reports.
1. P in the EMI formula is
Tap A, B, C or D.
Answer: D) the loan principal (amount borrowed)
Fees may be added on top if they finance them.
2. A 10% annual rate as a monthly decimal r is
Tap A, B, C or D.
Answer: D) 0.10 ÷ 12
Then use that r in the formula.
3. A 9% annual rate is monthly r of
Tap A, B, C or D.
Answer: A) 0.0075
9 ÷ 12 ÷ 100 = 0.0075.
4. 3 years of EMIs means n =
Tap A, B, C or D.
Answer: A) 36
Months, not years, in the usual formula.
5. 20 years of a home loan is n =
Tap A, B, C or D.
Answer: B) 240
20 × 12 = 240.
6. A higher r with the same P and n
Tap A, B, C or D.
Answer: C) raises the EMI
Rate is the expensive lever.
7. A larger P with the same r and n
Tap A, B, C or D.
Answer: C) raises the EMI
Borrow less if the EMI crowds the salary.
8. Amortisation means
Tap A, B, C or D.
Answer: A) each EMI splits into interest + principal, with the mix changing
Early months are interest-heavy.
9. A flat-rate advertised “EMI” can be
Tap A, B, C or D.
Answer: D) more expensive than a reducing-balance quote at the same headline %
Compare APR / effective rate.
10. A balloon or residual payment is
Tap A, B, C or D.
Answer: D) a large leftover at the end on some car products
It is not “EMI = 0 after year one”.
11. A moratorium pauses
Tap A, B, C or D.
Answer: C) EMIs for a stated time — interest may still accrue
Read whether interest capitalises.
12. Part-prepayment usually
Tap A, B, C or D.
Answer: C) cuts interest if the lender allows it
Some banks reset the EMI, some the tenor.
13. Foreclosure / full prepay can carry
Tap A, B, C or D.
Answer: A) a fee in the contract
Ask for a statement of charges.
14. A floating rate EMI can
Tap A, B, C or D.
Answer: A) change when the benchmark resets
Your SMS will show the new debit.
15. A fixed-rate period then float is
Tap A, B, C or D.
Answer: D) a hybrid some home loans use
Read the reset clause.
16. Insurance bundled in the loan can
Tap A, B, C or D.
Answer: A) raise P and therefore EMI
You can often buy cover separately.
17. A processing fee of 1% on 10 lakh is
Tap A, B, C or D.
Answer: C) ₹10,000 extra unless they waive it
GST may sit on the fee.
18. Stamp duty and registration on a home are
Tap A, B, C or D.
Answer: A) usually not the EMI itself
Budget them as cash upfront.
19. A phone “₹1,999 × 12” banner is
Tap A, B, C or D.
Answer: B) often a product EMI, still a loan
Check the cash price vs total of EMIs.
20. Total interest =
Tap A, B, C or D.
Answer: A) sum of EMIs minus P (for a simple fully-paid reducing loan)
Longer n inflates that sum.
21. If you can raise the EMI a little, a shorter n usually
Tap A, B, C or D.
Answer: A) saves interest
Run two quotes side by side.
22. Income-to-EMI ratios are
Tap A, B, C or D.
Answer: A) how lenders judge whether you can pay
Other EMIs count too.
23. A co-applicant can
Tap A, B, C or D.
Answer: C) help the income test; both may owe
Read who is liable.
24. A stepped-up EMI is
Tap A, B, C or D.
Answer: D) a schedule that rises later, if the contract says so
Salary-growth assumptions fail sometimes.
25. This page cannot
Tap A, B, C or D.
Answer: B) sanction your loan
The agreement schedule wins.
26. A missed EMI can
Tap A, B, C or D.
Answer: A) add penalty interest and hurt a credit file
Call the lender before it bounces.
27. NACH / e-mandate for EMI is
Tap A, B, C or D.
Answer: B) an auto-debit permission you can track
Keep the account funded on debit day.
28. Changing the debit date is
Tap A, B, C or D.
Answer: A) a request, not a right on every product
Ask the branch or app.
29. A top-up loan is
Tap A, B, C or D.
Answer: C) extra principal on an existing secured facility, with its own EMI maths
LTV caps still apply.
30. Pre-EMI on a partly disbursed home loan is
Tap A, B, C or D.
Answer: B) often interest-only until full disbursal
Under-construction deals use this word.
31. A dealer “zero EMI” week can hide
Tap A, B, C or D.
Answer: C) a higher cash price or a subvention
Compare the all-in rupees.
32. Rounding of paise on an EMI
Tap A, B, C or D.
Answer: D) follows the lender’s schedule, not your mental maths
The first debit SMS is the check.
33. A 12% advertised rate that compounds monthly is not
Tap A, B, C or D.
Answer: D) the same rupee cost as 12% simple on the original P for the whole tenor
Reducing-balance is the usual EMI story.
34. Excel PMT or a bank calc is
Tap A, B, C or D.
Answer: A) fine for a sketch if you enter monthly r and n
Fees still sit outside PMT.
35. Currency of the EMI should
Tap A, B, C or D.
Answer: A) match the loan (INR for a rupee loan)
FX loans add rate risk.
36. A gold-loan EMI vs bullet is
Tap A, B, C or D.
Answer: C) two different repayment shapes
Ask which you signed.
37. Student-loan EMIs after a study holiday still
Tap A, B, C or D.
Answer: C) use P that may have grown with interest
Capitalised interest hurts.
38. This explainer is not
Tap A, B, C or D.
Answer: D) a recommendation to borrow
Borrow only a payment you can stress-test.
39. If r is quoted per month already, you do not
Tap A, B, C or D.
Answer: A) divide by 12 again
Double-dividing understates EMI.
40. A 1-day delay after the due date can still
Tap A, B, C or D.
Answer: D) trigger a late fee on some cards and loans
Autopay a day early.
41. Part-payment vs extra in the EMI account as “advance EMI”
Tap A, B, C or D.
Answer: C) are different buttons — ask which reduces P
One may just sit as next month’s debit.
42. An EMI calculator on this site’s idea is
Tap A, B, C or D.
Answer: B) education; the lender’s schedule is the debit
Screenshot the sanctioned repayment table.
43. The official source for “how to calculate emi” (learn desk, item 1) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
44. The official source for “how to calculate emi” (learn desk, item 2) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
45. The official source for “how to calculate emi” (learn desk, item 3) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
46. The official source for “how to calculate emi” (learn desk, item 4) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
47. The official source for “how to calculate emi” (learn desk, item 5) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
48. The official source for “how to calculate emi” (learn desk, item 6) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
49. The official source for “how to calculate emi” (learn desk, item 7) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
50. The official source for “how to calculate emi” (learn desk, item 8) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
51. The official source for “how to calculate emi” (learn desk, item 9) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
52. The official source for “how to calculate emi” (learn desk, item 10) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
53. The official source for “how to calculate emi” (learn desk, item 11) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
54. The official source for “how to calculate emi” (learn desk, item 12) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
55. The official source for “how to calculate emi” (learn desk, item 13) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
56. The official source for “how to calculate emi” (learn desk, item 14) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
57. The official source for “how to calculate emi” (learn desk, item 15) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
58. The official source for “how to calculate emi” (learn desk, item 16) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
59. The official source for “how to calculate emi” (learn desk, item 17) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
60. The official source for “how to calculate emi” (learn desk, item 18) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
61. The official source for “how to calculate emi” (learn desk, item 19) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
62. The official source for “how to calculate emi” (learn desk, item 20) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
63. The official source for “how to calculate emi” (learn desk, item 21) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
64. The official source for “how to calculate emi” (learn desk, item 22) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
65. The official source for “how to calculate emi” (learn desk, item 23) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
66. The official source for “how to calculate emi” (learn desk, item 24) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
67. The official source for “how to calculate emi” (learn desk, item 25) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
68. The official source for “how to calculate emi” (learn desk, item 26) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
69. The official source for “how to calculate emi” (learn desk, item 27) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
70. The official source for “how to calculate emi” (learn desk, item 28) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
71. The official source for “how to calculate emi” (learn desk, item 29) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
72. The official source for “how to calculate emi” (learn desk, item 30) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
73. The official source for “how to calculate emi” (learn desk, item 31) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
74. The official source for “how to calculate emi” (learn desk, item 32) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
75. The official source for “how to calculate emi” (learn desk, item 33) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
76. The official source for “how to calculate emi” (learn desk, item 34) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
77. The official source for “how to calculate emi” (learn desk, item 35) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
78. The official source for “how to calculate emi” (learn desk, item 36) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
79. The official source for “how to calculate emi” (learn desk, item 37) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
80. The official source for “how to calculate emi” (learn desk, item 38) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
81. The official source for “how to calculate emi” (learn desk, item 39) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
82. The official source for “how to calculate emi” (learn desk, item 40) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
83. The official source for “how to calculate emi” (learn desk, item 41) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
84. The official source for “how to calculate emi” (learn desk, item 42) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
85. The official source for “how to calculate emi” (learn desk, item 43) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
86. The official source for “how to calculate emi” (learn desk, item 44) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
87. The official source for “how to calculate emi” (learn desk, item 45) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
88. The official source for “how to calculate emi” (learn desk, item 46) is
Tap A, B, C or D.
Answer: A) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
89. The official source for “how to calculate emi” (learn desk, item 47) is
Tap A, B, C or D.
Answer: B) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
90. The official source for “how to calculate emi” (learn desk, item 48) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
91. The official source for “how to calculate emi” (learn desk, item 49) is
Tap A, B, C or D.
Answer: D) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
92. The official source for “how to calculate emi” (learn desk, item 50) is
Tap A, B, C or D.
Answer: C) the authority or standard named on this page’s explainer
GKSchools English practice is original — not an official script.
93. EMI means
Tap A, B, C or D.
Answer: D) Equated Monthly Instalment
It is the monthly loan debit.
94. In the EMI formula, r is usually
Tap A, B, C or D.
Answer: A) the monthly interest rate
Annual % ÷ 12 ÷ 100.
95. n in the formula is
Tap A, B, C or D.
Answer: A) the number of monthly payments
5 years = 60.
96. A longer tenure usually
Tap A, B, C or D.
Answer: B) lowers the EMI but raises total interest
You stay in debt longer.
97. Processing fees are
Tap A, B, C or D.
Answer: C) often extra, not always inside the advertised EMI
Read the Key Fact Statement.
98. Reducing balance means
Tap A, B, C or D.
Answer: A) interest is charged on the leftover principal
Early payments are more interest-heavy.
99. Prepaying a loan can
Tap A, B, C or D.
Answer: A) cut future interest if the contract allows
Ask about foreclosure charges.
100. An EMI calculator on a random ad is not
Tap A, B, C or D.
Answer: C) a substitute for the lender’s sanctioned schedule
