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  • Book 3

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    amitabh.mehta
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    The document summarizes loan details for an employee named B S Sushanth. It shows the loan amount of Rs. 50,000 taken in April. It then lists the monthly repayment amounts along with interest charged at 8% and 15.25% for each month till February. The total interest charged at 8% is Rs. 2,195 while the difference in interest charged at 15.25% compared to 8% is Rs. 1,883. An amount of Rs. 640 would need to be deducted as tax.

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    The document summarizes loan details for an employee named B S Sushanth. It shows the loan amount of Rs. 50,000 taken in April. It then lists the monthly repayment amounts along with interest charged at 8% and 15.25% for each month till February. The total interest charged at 8% is Rs. 2,195 while the difference in interest charged at 15.25% compared to 8% is Rs. 1,883. An amount of Rs. 640 would need to be deducted as tax.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
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    9 views1 page

    Book 3

    Uploaded by

    amitabh.mehta
    The document summarizes loan details for an employee named B S Sushanth. It shows the loan amount of Rs. 50,000 taken in April. It then lists the monthly repayment amounts along with interest charged at 8% and 15.25% for each month till February. The total interest charged at 8% is Rs. 2,195 while the difference in interest charged at 15.25% compared to 8% is Rs. 1,883. An amount of Rs. 640 would need to be deducted as tax.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
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    of 1

    B S Sushanth: Current Year Loan:- 50,000

    Month Amount Interest


    April 4167 0
    May 4166 333
    June 4166 306
    July 4166 278
    August 4166 250
    September 4166 222
    October 4166 194
    November 4166 167
    December 4166 139
    January 4166 167
    February 4166 139
    45827 2195

    Employee name Loan Amt Recovery Balance Interset8% Interest 15.25%


    Difference

    B S Sushanth 50000 0 50000


    April 4167 45833 0 635 635
    May 4166 41667 333 582 249
    June 4166 37501 306 530 224
    July 4166 33335 278 477 199
    August 4166 29169 250 424 174
    September 4166 25003 222 371 149
    October 4166 20837 194 318 124
    November 4166 16671 167 265 98
    December 4166 12505 139 212 73
    January 4166 8339 167 159 (8)
    February 4166 4173 139 106 (33)
    March
    Total Perks to be taken 1,883
    Tax 640

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