HOW TO CONVERT LOAN INTEREST PERCENTAGE TO PAISA

 HOW TO CONVERT LOAN INTEREST 

PERCENTAGE TO PAISA:

    If Annual Interest = 15 % 

      In Paisa = ?


Step 1:

First find Monthly Interest Rate?

Monthly Interest Rate = Annual Interest/12

                                         =15/12

                                         = 1.25 %

Therefore Monthly Interest Rate = 1.25%


Step 2:

Find Rupees?

Rupees = Monthly Interest Rate * 100

              = 1.25/100 * 100 

              = 1.25 

Rupees =  ₹ 1.25


Step 3 :

Find Paisa?

Paisa = Rupees * 100 

           = 1.25 * 100 

           = 125 Paisa 


Hence therefore 

15% Annual Interest = 125 Paisa.


HOW TO CONVERT LOAN INTEREST 

PASISA TO PERCENTAGE:

Interest = 77 Paisa 

Percentage = ?


Step 1 : 

Convert into Rupees

Rupees = Paisa /100 

              = 77/100 

Rupees =   ₹ 0.77


Step 2 : 

Find Monthly Interest Rate ?

Monthly Interest Rate = Rupees /100*100

                                         = 0.77/100*100 

Monthly Interest Rate = 0.77 %


Step 3 : 

Find Annual Interest Rate ?

Annual Interest Rate = Monthly Interest* 12

                                       = 0.77 * 12

Annual Interest Rate = 9.24 %


77 Paisa Interest = 9.24 % Annual Interest




For More Details see below video :




THANK YOU...


 

















Comments

Post a Comment

Popular posts from this blog

How to Calculate Loan EMI

Image
 How to Calculate Loan EMI ? If  Loan Amount (P) = 1 Lakh  Rate of Interest (r) = 10% Tenure (n) = 12 Month or 1 Year. We are going to Find the Answer by Using below Formula,   EMI = P*r*(1+r)^n/((1+r)^n-1) Where  P is the Loan Amount, r is Rate of Interest n is Tenure or Number of years. Hence, Rate of Interest in Percentage so we have to Convert shown below r = 10%   = 10/12*100   = 0.00833333 Hence therefore, Rate of Interest ( r ) = 0.00833333 Now all these have to be applied in this formula. EMI = P*r*(1+r)^n/((1+r)^n-1)         = 100000*0.00833333*(1+0.00833333)^12/((1+0.00833333)^12-1)       = 8791.5  Therefore EMI =  ₹ 8791.5 For More Details see below video , TNANK YOU, BANKING TIPS.
Read more

Housing Loan Required Documents

Image
 HOUSING LOAN REQUIRED DOCUMENTS GENERAL DOCUMENTS :  1.Aadhar Card. 2.Pan Card. 3.Voter ID. 4.Ration Card. 5.Passport Size Photo. PROPERTY PAPER : 1.Land Documents. 2.Blueprint Xerox. 3.Registered Development Agrement of Builder. ACCOUNT STATEMENT : 1.Last six month Bank Account Statement. 2.If Anyother or Previous Loan one year Loan Statement. INCOME PROOF (NON SALARIED) : 1.Bussiness Address Proff. 2.Last 3 Years IT Returns. 3.Last 3 Years Balance Sheet. 4.Last 3 Years Profit and Loss Account Statement. 5.Bussiness License Details. 6.Certification for Qualifications(for example Doctors, CA and other Proffessionals) INCOME PROOF (SALARIED): 1.Last 3 Months Salary Slip. 2.Copy of Form 16 for Last 3 Years. FOR MORE DETAILS CHECK BELOW VIDEO  THANK YOU, BANKING TIPS.
Read more