M/s Bombay Rayon Ltd. took a Amortized Term Loan on 1st April 2021, of Rs 80 Crs from Bank of Baroda to be repaid in 10 equal annual instalments on 31st March of each year. The rate of interest on the Loan is fixed at 11% pa. Assuming that M/s Bombay Rayon repays three instalments.

What will be the Principal Balance outstanding to the Bank as on 1st April 2024?

Answer rating: 100% (QA)

SOLUTION Ms Bombay Rayon Ltd took a Rs 80 Crs Amortized Term Loan from Bank of Baroda on 1st April ... View the full answer