ABC Ltd made an fd of Rs.179005 @ 9.25% p.a on 19-7-2012. maturity value is 235510.. then how would i calculate interest accrued for A.Y 2012-13.
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Interest calculation on fd
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most of the banks provide the accrued interest details on their internet banking site. And the accrued interest calculation is simple:
(FD amount * Interest percentage) / (365or360) * (the number of days from which the FD was made).
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