Can anyone do the calculation for me?

Question

I had burrowed Rs. 1 lac from my relative on 15th Jan 2007 @ 20% p.a.. I repaid him Rs.50000/- on 19th April 2007 and balance Rs.50,000/- i repaid on 6th Oct 2007. Now i have to pay him the interest on the prinicipal amount. What would be the amount if: 1)it is flat rate of 20%
2) reducing balance method
Please give me seperate calculations.
Request only serious replies.

Answer 1

Interest for 15th Jan. to 19th April:
Total period =95 days

Int. = 100000*95/365*20/100

= Rs.5205.48
Amount paid on 19th April =Rs 50000/-

Balance due = Rs 100000+5205.48 -50000
=Rs. 55205.48/
Interest for 20thApril to 6th Oct.
Total days = 170days

Interest = 55205.48*170/365*20/100;

= Rs. 5142.43
Totl amount due = Rs 55205.48+5142.43;
= Rs 60347.91/
Paid =Rs. 50000/
Amount due = Rs.10347.91

Answer 2

1) Flat rate means you pay 20% (per year) untill the whole loan is repaid. 20% of 100,000 is 20,000.
So you pay 20,000 per year Interest untill the loan is paid off.

15th Jan to 6 Oct is (approx) 9/12ths of a year, so answer 1 is 20,000 * 9/12 = appprox 15,000

2) Reducing balance means you only pay interest on the outstanding loan. Since you paid back half in April you only pay full interest for Jan-April (approx 3/12ths) ..
and then, since you only owe half, you only pay half the interest (for approx 6 months) .. this comes to :-

20,000 * 3/12 = 5,000 PLUS
10,000 * 6/12 = 5,000 == 10,000 (approx)

Answer 3

After being given documents on the fee and process the asteroid and the fee and process the Earth, i became into waiting to calculate precisely whilst the asteroid could hit the Earth and blow us all into oblivion.