A loan of ₹50,000 at 1.5% a month is repaid by EMIs of ₹4,584 on the reducing balance. How much is still owed after the first EMI?

Explanation

1. 01

   The first EMI pays 750 of interest and $4{,}584 - 750 = 3{,}834$ of the loan.

2. 02

   Still owed: $50{,}000 - 3{,}834 = 46{,}166$ rupees.