Mr. X took a loan of ₹ 5,00,000 on 01.10.2017 @ 10% p.a. for construction of house which was completed on 31.03.2021. Compute interest on capital borrowed for the previous year 2020-21.
A. ₹ 75,500
B. ₹ 75,000
C. ₹ 50,000
D. ₹ 85,000
Answer:B
Mr. X took a loan of ₹ 5,00,000 on 01.10.2017 @ 10% p.a. for construction of house which was completed on 31.03.2021. Compute interest on capital borrowed for the previous year 2020-21.
A. ₹ 75,500 B. ₹ 75,000 C. ₹ 50,000 D. ₹ 85,000