Calculation of installments
This query is : Resolved
22 June 2012
DEAR FRIENDS,
I GAVE A COMPETITIVE EXAM IN LAST SUNDAY. THERE WAS QUESTION IN THE QUESTION PAPER.BUT I COULD NOT SOLVE IT AS MY KNOWLEDGE WAS NOT WORTH ABOUT THE TOPIC. I HOPE ANY MEMBER OF CCI FORUM COULD SOLVE IT.THE QUESTION WAS... AN ITEM IS AVAILABLE IN RS. 6000 AND IT CAN BE BOUGHT BY PAYING RS. 2000 AS CASH DOWN PAYMENT AND REMAINING IN THREE EQUAL INSTALMENTS. IF THE RATE OF THE INTEREST IS 12 PERCENT PER ANNUM .FIND THE AMOUNT OF EACH INSTALMENTS.
REGARDS
SANTOSH SHARMA
Accounts Executive.
I GAVE A COMPETITIVE EXAM IN LAST SUNDAY. THERE WAS QUESTION IN THE QUESTION PAPER.BUT I COULD NOT SOLVE IT AS MY KNOWLEDGE WAS NOT WORTH ABOUT THE TOPIC. I HOPE ANY MEMBER OF CCI FORUM COULD SOLVE IT.THE QUESTION WAS... AN ITEM IS AVAILABLE IN RS. 6000 AND IT CAN BE BOUGHT BY PAYING RS. 2000 AS CASH DOWN PAYMENT AND REMAINING IN THREE EQUAL INSTALMENTS. IF THE RATE OF THE INTEREST IS 12 PERCENT PER ANNUM .FIND THE AMOUNT OF EACH INSTALMENTS.
REGARDS
SANTOSH SHARMA
Accounts Executive.
23 June 2012
If the instalment is annual then the EMI is as follows:
12%
Period Interest Instalment o/s
0 6,000.00
0 2,000.00 4,000.00
1 480.00 1,026.93 2,493.07
2 299.17 1,026.93 1,166.97
3 140.04 1,026.93 -
If it is monthly then :
1%
Period Interest Instalment o/s
0 6,000.00
0 2,000.00 4,000.00
1 40.00 1,306.76 2,653.24
2 26.53 1,306.76 1,319.96
3 13.20 1,306.76 (0.00)
12%
Period Interest Instalment o/s
0 6,000.00
0 2,000.00 4,000.00
1 480.00 1,026.93 2,493.07
2 299.17 1,026.93 1,166.97
3 140.04 1,026.93 -
If it is monthly then :
1%
Period Interest Instalment o/s
0 6,000.00
0 2,000.00 4,000.00
1 40.00 1,306.76 2,653.24
2 26.53 1,306.76 1,319.96
3 13.20 1,306.76 (0.00)
25 June 2012
If The Installment is monthly it is Rs. 1360.08
If the Installment is Yearly it is Rs.1665.39
If the Installment is Yearly it is Rs.1665.39
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- FCRA 6 E- Intimation
- Bank details not Visible on Traces Portal
- Taxability of Partnership firm for FY 2025-26
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Same demand raised for original as well as rectification request return
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
