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State of Rajasthan - Section

Section 15 in The Rajasthan Loans To Small Mining Lessees Rules, 1982

15. Calculation of instalments.

- Instalment for recovery of a loan shall be worked out in accordance with the following formula:-
I =| M + L2| + P
Where 'I' stands for the amount of instalment, 'M' stands for the interest on total amount of loan for one year, 'L' stands for interest on one equated instalment of principal for one year and 'P' stands for equated instalment of principal for one year.