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

Explanation

1. 01

   Interest for the first month: $50{,}000 \times 0.015 = 750$.

2. 02

   The rest repays the loan: $4{,}584 - 750 = 3{,}834$ rupees.