Interest calculation on arrears housing society

Querist : Anonymous (Querist) 23 February 2022 This query is : Resolved
If a member has following overdues for example

Arrears as on 1 Apr 21 - Rs 1,80,000 ... Balance on principal - Rs 1,50,000 ... interest on arrears - Rs 30000
Maintenance bill per month ... Rs 7500 and the member is paying Rs 10000 every month regularly after 1 Apr 21

How is the interest on arrears to be calculated every month after 1 Apr 21

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kavksatyanarayana (Expert) 23 February 2022
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