ie, if the amount saved is different for every month and it is continued for 50 months then some amount will come after 50 months. Then how to calculate the correct interest rate?
2006-10-08 00:40:54 · 4 answers · asked by abcdefg 5 in Local Businesses ➔ India ➔ Hyderabad
Nothing remains certain in such savings, amount and their receipts keep varying and at times actual receipt date are far different than those projected. Most of the transactions remain Ghapla (in-genuine) and beyond any reasonable logic. You can arrive at some figure only after everything gets completed/over. Modern scientific interest calculations don't support "en bloc" these Chit Fund savings rates beforehand.
2006-10-11 22:19:01 · answer #1 · answered by helpaneed 7 · 1⤊ 0⤋
Chit Fund Interest Calculator
2017-01-18 07:18:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Follow this simple formulae- Interest Received= Principal Amount.rate of int/100.time or to simplify for you. Rate of Interest calculation for 1 month ROI For 1 month = Int Received.1200/Principle amount
2016-03-18 06:29:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋
DO NOT FALL INTO THESE CHIT BUSINESS, ULTIMATELY YOU WILL BE CHEATED.
2006-10-11 03:14:10 · answer #4 · answered by Anonymous · 0⤊ 1⤋
for int. calculations these are only cheat funds ! so just collect whatever they give u and thanks them for that !
2006-10-08 01:10:38 · answer #5 · answered by jijo 3 · 0⤊ 0⤋