Question

Borrowed Loan from Bank of Maharashtra 2,00,000 on 1st October 2019 at rate of 15%
p.a. Calculate Interest on Bank Loan for the year 2019-20 assuming that the financial
year ends on 31st March, every year.​

Answer 1

Answer:

15000

we have taken 1st date to last date.

we have half year means 0.5

200000×15×0.5

_____________ = 15000

100

200000×15×0.5=1500000

1500000

_______

100