What is the rate of int?

loan amt - 3,65,000.00
emi for 36 months - 11820
what is the flat rate

Answer:
16.58%
(emi x no of months - loan amount) x 100 / loan amount will give you flat rate of interest

in your example the flat interest rate is (11820 x 36 - 365000) x 100 / 365000 = 16.58%
16.58%
Flate rate of interest is 5.53% However real interest is more.

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