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

#46912
Sameer Kapoor
Participant

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.