Ampere Magnus EX
Rs.1.05 Lakh*
*Ex-showroom Price in Delhi
View March Offers

What will be the monthly EMI for Ampere Magnus EX?

EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your loan. These payments include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI for Ampere Magnus EX can be calculated using the following formula:

{P x R x (1+R)^N / [(1+R)^N-1]}

where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.

For Example:- If the principal amount for a bike loan is Rs. ₹98,238/- on an annual rate of interest of 10% for a tenure of 3 years then 

EMI = 98238 * 0.008333*(1+ 0.008333)^36 / ((1+ 0.008333)^36)-1 = Rs 3,156/-

The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 10% per annum, then R= 10%/12 = 0.008333.

Have any question? Ask now!

Guaranteed response within 48 hours

QnA image

Find FAQ of Magnus EX Alternatives

Ex-showroom price in Delhi

Users Also Viewed

More Scooter Options to Consider

Best Electric Bikes

  • Popular
  • Upcoming
*Ex-showroom price
×
We need your city to customize your experience