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Guest (Querist)
21 February 2016 While Calculating Interest 1/12months? Why is it taken 1/12months means? Kindly Explain? ASAP Thank You
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Ganeshbabu K

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Ganeshbabu K (Expert)
24 February 2016 When rate applied is "per annum" to make it month we need to divide with 12(12 months for year)

So for one month interest need to divide per annum interest rate with 1/12

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