LendingKart Engineering Manager Interview Questions and Answers

To calculate EMI and interest, we need to know the loan amount, interest rate, and tenure.

• EMI stands for Equated Monthly Installment, which is the fixed amount paid monthly towards the loan repayment.

• EMI calculation formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the loan amount, R is the interest rate per month, and N is the tenure in months.

• Interest calculation formula: Interest = (P x R x N)/100, where P is...read more

Secured loans are backed by collateral, while unsecured loans are not.

• Secured loans require collateral to secure the loan, such as a house or car

• Unsecured loans do not require collateral and are based on the borrower's creditworthiness

• Secured loans typically have lower interest rates due to the lower risk for the lender

• Examples of secured loans include mortgages and auto loans, while credit cards and personal loans are

There are several types of loans including personal loans, home loans, auto loans, student loans, and business loans.

• Personal loans

• Home loans

• Auto loans

• Student loans

• Business loans

Basic documents for a business loan include financial statements, business plan, credit history, and personal identification.

• Financial statements (income statement, balance sheet, cash flow statement)

• Business plan outlining the purpose of the loan and how it will be used

• Credit history of the business and its owners

• Personal identification documents (such as driver's license or passport)

• Collateral documents (if applicabl

15% of 2 lakhs is 30,000.

• Calculate 15% of 2 lakhs by multiplying 2,00,000 by 0.15

• 15% of 2 lakhs = 2,00,000 * 0.15 = 30,000

Vector is a dynamic array that can resize itself. It differs from arrays in its ability to change size during runtime.

• Vectors are implemented as dynamic arrays, whereas arrays are static.

• Vectors can resize themselves during runtime, whereas arrays have a fixed size.

• Vectors can be used to store objects of any type, whereas arrays can only store objects of a specific type.

• Vectors have built-in functions for easy manipula

An abstract class is a class that cannot be instantiated and is used as a base class for other classes.

• An abstract class can have abstract and non-abstract methods.

• Abstract methods are declared but not implemented in the abstract class.

• A non-abstract class that inherits from an abstract class must implement all abstract methods.

• An abstract class can have constructors and fields like a regular class.

• An abstract class ca...read more