Mathematics · Financial Mathematics
According to RBI guidelines, total monthly debt obligations of a microfinance household cannot exceed 50% of its monthly income. If a household has an annual income of ₹2,40,000 and current monthly EMI payments of ₹7,000, what is the maximum monthly EMI allowed for a new microfinance loan?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹12,000
- 2₹3,000✓
- 3₹5,000
- 4₹10,000
Correct answer
₹3,000
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