Hie Experts.. The requirement is : If the amount is outstanding for 41 days then It should calculate interest for 1 day and not 41 days.....
Thanks for your concern. On Saturday, December 21, 2013 8:16:26 PM UTC+5:30, khushal wrote: > I need to calculate amount of interest receivable from other party. > The Conditions are : > 1) Rate of Interest : 15% p.a. > 2) Due Date of Payment : within 40days > 3) What if due date not achieved (i.e payment not received within 40 days) > : interest will be charged on *OUTSTANDING AMOUNT* for nos of days > exceeding due date. > > I've tried using cumulative balances like bank but it gives wrong > answer if I get my payment in parts e.g. like in case where we gave Rs. > 29lacs on15th June, *but* it has been received in parts like Rs. 438,885 > on 26th july, *and* 116,508 on 1st sept *and* Rs. 50 Lacs on 12th Oct. > > Thank you & All d best !! > -- Are you =EXP(E:RT) or =NOT(EXP(E:RT)) in Excel? And do you wanna be? It’s =TIME(2,DO:IT,N:OW) ! Join official Facebook page of this forum @ https://www.facebook.com/discussexcel FORUM RULES 1) Use concise, accurate thread titles. Poor thread titles, like Please Help, Urgent, Need Help, Formula Problem, Code Problem, and Need Advice will not get quick attention or may not be answered. 2) Don't post a question in the thread of another member. 3) Don't post questions regarding breaking or bypassing any security measure. 4) Acknowledge the responses you receive, good or bad. 5) Jobs posting is not allowed. 6) Sharing copyrighted material and their links is not allowed. NOTE : Don't ever post confidential data in a workbook. Forum owners and members are not responsible for any loss. --- You received this message because you are subscribed to the Google Groups "MS EXCEL AND VBA MACROS" group. To unsubscribe from this group and stop receiving emails from it, send an email to excel-macros+unsubscr...@googlegroups.com. To post to this group, send email to excel-macros@googlegroups.com. Visit this group at http://groups.google.com/group/excel-macros. For more options, visit https://groups.google.com/groups/opt_out.
