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  • Rs 15L Loan Repayment Schedule

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    Shancy Sahoo
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    Mr. RK took a loan of Rs. 15L from a bank at 6% interest per year for 8 years. He had to repay 60% of the loan (Rs. 9L) in half-yearly installments over the first 6 years. For the remaining 2 years, he had to repay the remaining 40% (Rs. 6L) in half-yearly installments. The document includes a loan repayment schedule showing the opening balance, interest, installment amount, and closing balance for each half-year period until the full amount is repaid over 16 installments.

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    Mr. RK took a loan of Rs. 15L from a bank at 6% interest per year for 8 years. He had to repay 60% of the loan (Rs. 9L) in half-yearly installments over the first 6 years. For the remaining 2 years, he had to repay the remaining 40% (Rs. 6L) in half-yearly installments. The document includes a loan repayment schedule showing the opening balance, interest, installment amount, and closing balance for each half-year period until the full amount is repaid over 16 installments.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    10 views7 pages

    Rs 15L Loan Repayment Schedule

    Uploaded by

    Shancy Sahoo
    Mr. RK took a loan of Rs. 15L from a bank at 6% interest per year for 8 years. He had to repay 60% of the loan (Rs. 9L) in half-yearly installments over the first 6 years. For the remaining 2 years, he had to repay the remaining 40% (Rs. 6L) in half-yearly installments. The document includes a loan repayment schedule showing the opening balance, interest, installment amount, and closing balance for each half-year period until the full amount is repaid over 16 installments.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 7

    Question: Mr. RK has taken a loan of Rs.15L from a bank @6% p.a. for 8 years.

    He has to repay 60% of the loan in


    the periodicity for the remaining time. Prepare a generalized loan sheet to reflect the repayment of loan. (Loan ca
    yearly/ monthly/ quaterly/ fortnightly/ bimonthly installments).

    Amount ₹1,500,000.00
    Period of loan 8

    Before rescheduling
    Periodicity Half yearly 2
    Period 6
    No. of installments 12
    Rate 6%
    Effective rate 0.03
    Amount to be repaid 60% ₹900,000.00
    Installment amount ₹108,415.88
    After rescheduling
    Periodicity Half yearly 2
    Period 2
    No. of installments 4
    Rate 6%
    Effective rate 0.03
    Amount to be repaid 40% ₹600,000.00
    Installment amount ₹161,416.23
    Total no. of installments 16

    LOAN REPAYMENT SCHEDULE


    S.NO Opening balance Interest Installment Closing balance
    1 ₹1,500,000.00 ₹45,000.00 ₹108,415.88 ₹1,436,584.12
    2 ₹1,436,584.12 ₹43,097.52 ₹108,415.88 ₹1,371,265.77
    3 ₹1,371,265.77 ₹41,137.97 ₹108,415.88 ₹1,303,987.87
    4 ₹1,303,987.87 ₹39,119.64 ₹108,415.88 ₹1,234,691.63
    5 ₹1,234,691.63 ₹37,040.75 ₹108,415.88 ₹1,163,316.50
    6 ₹1,163,316.50 ₹34,899.49 ₹108,415.88 ₹1,089,800.11
    7 ₹1,089,800.11 ₹32,694.00 ₹108,415.88 ₹1,014,078.24
    8 ₹1,014,078.24 ₹30,422.35 ₹108,415.88 ₹936,084.71
    9 ₹936,084.71 ₹28,082.54 ₹108,415.88 ₹855,751.38
    10 ₹855,751.38 ₹25,672.54 ₹108,415.88 ₹773,008.04
    11 ₹773,008.04 ₹23,190.24 ₹108,415.88 ₹687,782.40
    12 ₹687,782.40 ₹20,633.47 ₹108,415.88 ₹600,000.00
    13 ₹600,000.00 ₹18,000.00 ₹161,416.23 ₹456,583.77
    14 ₹456,583.77 ₹13,697.51 ₹161,416.23 ₹308,865.06
    15 ₹308,865.06 ₹9,265.95 ₹161,416.23 ₹156,714.78
    16 ₹156,714.78 ₹4,701.44 ₹161,416.23 ₹0.00
    ay 60% of the loan in 1st 6 years. Afterwards he can change
    ment of loan. (Loan can be repaid in equal yearly/ half

    Bimonthly 6
    Fortnightly 24
    Half yearly 2
    Monthly 12
    Quaterly 4
    Yearly 1
    Solution 2
    Cost ₹ 500,000.00
    Salvage value ₹ 20,000.00
    Life of fixed asset 20
    Months in 1st year 6 Life of fixed asset
    1
    PERIOD DB METHOD SLN METHOD 2
    3
    1 ₹ 37,250.00 ₹ 12,000.00 4
    2 ₹ 68,950.00 ₹ 24,000.00 5
    3 ₹ 58,676.00 ₹ 24,000.00 6
    4 ₹ 49,933.00 ₹ 24,000.00 7
    5 ₹ 42,493.00 ₹ 24,000.00 8
    6 ₹ 36,162.00 ₹ 24,000.00 9
    7 ₹ 30,774.00 ₹ 24,000.00 10
    8 ₹ 26,188.00 ₹ 24,000.00 11
    9 ₹ 22,286.00 ₹ 24,000.00 12
    10 ₹ 18,966.00 ₹ 24,000.00 13
    11 ₹ 16,140.00 ₹ 24,000.00 14
    12 ₹ 13,735.00 ₹ 24,000.00 15
    13 ₹ 11,688.00 ₹ 24,000.00 16
    14 ₹ 9,947.00 ₹ 24,000.00 17
    15 ₹ 8,465.00 ₹ 24,000.00 18
    16 ₹ 7,204.00 ₹ 24,000.00 19
    17 ₹ 6,130.00 ₹ 24,000.00 20
    18 ₹ 5,217.00 ₹ 24,000.00
    19 ₹ 4,440.00 ₹ 24,000.00
    20 ₹ 3,778.00 ₹ 24,000.00
    21 ₹ 1,608.00 ₹ 12,000.00
    TOTAL ₹ 480,030.00 ₹ 480,000.00
    Months in 1st year
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12

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