INSTALLMENTS

Dear Aksh*t,

Following is the solution for your question:-

1st payment is made after 12 months from the date of loan.

2nd payment is made after 18 months from the date of loan

3rd payment is made after 24 months from the date of loan

4th payment is made after 30 months from the date of loan

5th payment is made after 36/120 months from the date of loan

Average Due Date = Date of Loan + Sum of months from 1st Jan, 09 to the date of each installment

                                                                                                 Number of Installments

= 1st Jan 07 + 120 Months

                                    5

= 1st Jan 07 + 24 Months

= 1st Jan 09

Interest = Rs. 25000 x 10/100 x 2 Years = Rs. 5000

Therefore, Average Due Date is 1st Jan 09 and Interest is Rs. 5000.

Regards,
Devendra K