Answer Posted / h.r. sreepada bhagi
Interest payable on borrowed money (Loan) as on a particular
date but is not due is accrued interest.
For example, Interest is payable on quarterly basis on a
loan of Rs.10 Lacs principal as on 30.09.20x0 @15% p.a. Next
due date for interest is, say 31.12.20x0. Interest accrued
on 30.11.x0 will be Rs. 25000/- (i.e. Interest from st
October to 30th November 20x0)
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