Important Question Solution Update CA Final SFM
Channel: PAVAN SIR CLASSES
Date: 2022-04-03

A textile manufacturer has taken floating interest rate loan of ₹
40,00,000 on 1st April, 2012. The rate of interest at the inception of loan
is 8.5% p.a. interest is to be paid every year on 31st March, and the
duration of loan is four years. In the month of October 2012, the Central
bank of the country releases following projections about the interest
rates likely to prevail in future.