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Question
Bhim International Ltd., in order to raise additional funds for expansion purpose, took a loan of ₹ 10,00,000 at a rate of 12% per annum from NZ Bank on 1st July, 2023, against which it offered ₹ 15,00,000, 8% Debentures of ₹ 100 each as a collateral security.
Calculate the finance cost to the company for the year 2023-24.
Options
₹ 1,20,000
₹ 2,40,000
₹ 90,000
₹ 1,80,000
Solution
₹ 90,000
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Name and explain the function which returns the future value of an investment which has constant payment and interest.
