Mathematics · Banking Aptitude
Calculate the maximum loan amount a consumer is eligible for under a 'Personal Loan' scheme based on the following verified data: 1. The consumer's Gross Monthly Salary is ₹1,50,000. 2. Statutory deductions including Income Tax and Professional Tax amount to ₹25,000. 3. The consumer is already paying a Home Loan EMI of ₹30,000 and a Car Loan EMI of ₹10,000. 4. The bank's policy allows a maximum Fixed Obligation to Income Ratio (FOIR) of 60% of the Net Monthly Income. 5. The EMI for the new loan is calculated at ₹2,200 per Lakh of the loan amount for the desired tenure.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹15,90,909✓
- 2₹20,00,000
- 3₹13,33,333
- 4₹11,36,364
Correct answer
₹15,90,909
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