Need A Financial Product › Forums › Trading/Investments › Will I get huge 24% annual interest by lending › Will-I-get-huge-24-percent-annual-interest-by-lending_REPLY
August 21, 2014 at 3:14 am
#46912
Sameer KapoorParticipant
Your logic is absolutely correct. This is simple interest calculation. One month interest will be Rs. 20,000 for a loan of Rs. 10, 00,000 and yearly interest will be Rs. 2,40,000, i.e. you will get 24% rate of interest annually or 2% per month.