Hi all, i got a requiremnt from client.they have given me below req. how can i do configuration for below 2 requirements, can any one provode me configuration steps for this.

Hi All, i dont have a knowledge on loans in indian payroll, but i have to complete this task as early as possible.Can anyone provide me

Complete configuration of below requirment ?

A) Interest Bearing Normal Loan (Only Principle is reduced)

Example: Employee has taken 1000 rs   as a loan with the interest of 1% on 1000. He wants to  re-pay   1000 rs in 5 install ments. That means 5* 200= 1000. In 5 periods he wants to clear the amount.

Example:

              Period No:               Monthly Installment        interest (1%)                    Remaining

1. 1.   01.04.2015-----------------200-----1% on 1000 = 10 ----------210            = 800
2. 2.   01.05.2015-----------------200-----1%  on 800 = 8 ------------208            =  600
3. 3.   01.06.2015-----------------200-----1%  on 600 = 6-------------206            =  400
4. 4.   01.07.2015-----------------200-----1%  on 400 = 4 ------------204            =  200
5. 5.   01.08.2015-----------------200-----1%  on 200 = 2-------------202            =  0

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