EMI (Equated Monthly Installment) is the fixed payment you make every month for your loan.
EMI = [P × r × (1+r)^n] / [(1+r)^n - 1]
P = Loan Amount, r = monthly interest rate, n = total months
Loan = ₹2,00,000, Interest = 10% p.a., Tenure = 24 months
EMI ≈ ₹9,229 per month