Mathematics · Banking Aptitude and Financial Calculations
Mr. Amit has three credit cards with the following details: Card A (Limit: 50,000; Outstanding: 40,000), Card B (Limit: 1,50,000; Outstanding: 30,000), and Card C (Limit: 1,00,000; Outstanding: 80,000). He also has a personal loan with a monthly EMI of 15,000 and his monthly take-home salary is 1,00,000. Calculate Amit's aggregate 'Credit Utilization Ratio' (CUR) and his 'Fixed Obligation to Income Ratio' (FOIR). Based on these, determine if his profile is likely to be favored for a new home loan (Assume a typical bank's favorable CUR is < 40% and FOIR is < 50%).
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1CUR: 30%; FOIR: 20%; Favored for loan.
- 2CUR: 50%; FOIR: 45% (assuming credit card minimum dues of 5% of outstanding); Not favored for loan.✓
- 3CUR: 50%; FOIR: 15%; Not favored for loan.
- 4CUR: 50%; FOIR: 15%; Favored for loan.
Correct answer
CUR: 50%; FOIR: 45% (assuming credit card minimum dues of 5% of outstanding); Not favored for loan.
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