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Standard VII

Mathematics

Interest

Comex Ltd. ha...

Question

Comex Ltd. has issued $3, 000$ Debentures of Rs. $100$ each on $1.1.2005$ . Coupon rate is $15 %$ p.a. Interest is payable on $31$ st March and $30$ th September each year. Accounting year of the company is calendar year. What is secured interest on $31.12.2005$ ?

Rs.

11, 250

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Rs.

22, 500

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Rs.

45, 000

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Rs. Nil

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Solution

The correct option is A Rs. $11, 250$
Interest is payable on $31$ st March and $30$ th September. Therefore, on $31.12.05$ interest for $3$ months will accrue. Hence, accrued interest will be $3, 00, 000 \times 15 / 100 \times 3 / 12 =$ Rs. $11, 250$ .

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Comex Ltd. has issued 3,000 Debentures of Rs. 100 each on 1.1.2005. Coupon rate is 15% p.a. Interest is payable on 31st March and 30th September each year. Accounting year of the company is calendar year. What is secured interest on 31.12.2005?

The correct option is A Rs. 11,250Interest is payable on 31st March and 30th September. Therefore, on 31.12.05 interest for 3 months will accrue. Hence, accrued interest will be 3,00,000×15/100×3/12=Rs. 11,250.

Comex Ltd. has issued $3, 000$ Debentures of Rs. $100$ each on $1.1.2005$ . Coupon rate is $15 %$ p.a. Interest is payable on $31$ st March and $30$ th September each year. Accounting year of the company is calendar year. What is secured interest on $31.12.2005$ ?

The correct option is A Rs. $11, 250$
Interest is payable on $31$ st March and $30$ th September. Therefore, on $31.12.05$ interest for $3$ months will accrue. Hence, accrued interest will be $3, 00, 000 \times 15 / 100 \times 3 / 12 =$ Rs. $11, 250$ .