How interest will be calculated

hai nikil assume dat purchases r made in d middle of d year.  due date for purchases is for 2 months. amount relating to purchases made in d month of feb&march r paid in next month. purchases evenly spread means for first quarter ,ie, apr may june

apr=10    may=10   june=10    

q2    july=15    aug=15    sept=15   oct=15   nov=15   dec=15

q3    jan=10  feb=10 mar=-10

interst for 130 laks= 130*12%*2/12 = 2.6

interst for 10 laks on feb=10*12%*1.5/12 =0.15

interst for 10 laks on march=10*12%*.5/12 =0.05

for the months feb interest should be calculated as 10*12/100*1.5/12 = 0.15 and

for the month of march interest should be calculated as 10*12/100*0.5/12 = 0.05

so total interest for the months of feb and march is 0.15+0.05 = 0.2

and the remaining amount that is 150-20 = 130

here 20 comes from  10 + 10  ----> which is for the month of feb and march

and the interest for 130 for 2 months credit is as folows :

130*2/12*12/100  = 2.6

and total interest is  0.2+2.6 = 2.8

hope you will clarified

corrections are most encouraged !

thanks

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i agree with mounika

i also agree

also agree

Agreed...............................................................