Venkateswar Reddy
(Audit Assistant)
(195 Points)
Replied 30 January 2016
Total Installment Value = 10,00,000
Upfront amount = 1,20,000
So, Total interest charged for 17 weeks comes to 1,20,000
and the Interest rate comes to 13.5325%.
File attached for your reference.
Karamvir Ahuja
(1 Points)
Replied 13 April 2016
Sir why have calculated interest for 14 days, 21 days, 28 days.... and so on.
FOR EXAMPLE -
WEEK 2 interest should be calculated only for 7 days on 880000. WEEK 1 should not be included in week 2 calculations i.e 1X7 and not 2X7.
Please explain.
regards
karamvir ahuja ( karamvir.ahuja @ yahoo.in )
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