Determine the bike’s on-road price
Subtract the down payment
Add any processing fees or charges to the loan amount
Note the loan principal amount
Identify the annual interest rate
Convert the annual interest rate to a monthly rate
Note the loan tenure in months
Use the EMI formula: EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
Use P as the loan principal
Use R as the monthly interest rate
Use N as the number of monthly installments
Calculate the EMI using the formula
Add insurance, registration, and other charges separately if needed
Verify the total repayment amount by multiplying EMI by tenure
Subtract the principal from the total repayment to find total interest paid