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Average due date

Accountancy

can anyone tell me how 3.17 came in the calculation of interest in the given sum?

AVERAGE DUE DATE.docx

Divinne Fiona

CA Inter

★ 9K+

07-Sep-23 21:03

336

Answers (2)

3.17 came by dividing 38/12 as you have to calculate interest for 38 months 38/12 = 3.166666 or round off= 3.17

Himanshi Bansal

CA Inter

★ 15

07-Sep-23 22:13

Thankyou

Thread Starter

Divinne Fiona

CA Inter

★ 9K+

09-Sep-23 11:12