Hi Shreekumar,
1. Interest on 1st installment
Interest amount of first EMI will be Rs.22917, calculated as under
25,00,000 * 11%*1 month / 12 months
By deducting this amount (Rs. 22917) of interest from EMI you will get Principal of first installment.
2. Interest on 2nd installment
While calculating interest portion in 2nd month's installment, first you will have to deduct Principal amount of 1st installment (as per calculation above) from total loan amount (Rs.25 lacs), on balance amount apply 11% for 1 month.
Example,
suppose you EMI is Rs.50000, interest and pricipal will be as under
1 First installment
Interest Rs.22917
Principal Rs.27083 (50000 - 22917)
2. Second installment
Interest Rs. 22668 (2500000-27083) * 11% *1 month / 12 months
Principal Rs.27332 (50000 - 22668)
you will have to calculate like wise for rest of the installments
Hope this will be clear to you,
Thanks,
Devanand