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Rate of Interest 2 % per month Principle Rs.100000/-for 5 months interest amt dedected Rs.10000/- from loan and received balance Rs.90000/- Please Find actual rate

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Icon Mini Profile ramanan_revathi





Joined: 02 Jan 2011

Posts: 1

1.00 Dollars($)
Post Posted: Sun Jan 02, 2011 3:35 am    Post subject: Rate of Interest 2 % per month Principle Rs.100000/-for 5 mo
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Rate of Interest 2%
Loan amount 100000/-
Period 5 months
Interest amount Rs.10000/-
Received amount Rs.90000/-
Monthly repayable Rs.20000/-
What is the actual rate of interest
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



Posts: 10562
Location: ALASKA
1089.18 Dollars($)
Post Posted: Sun Jan 02, 2011 7:27 pm    Post subject:
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Hi ramanan_revathi,

I really did not understand your query. You've yourself mentioned that your rate of interest is 2%. In that case, what actual rate of interest are you talking about?

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