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    Chit Funds Calculator

    Uploaded by

    kirans60
    This document summarizes the details of a chit fund including the total chit amount, number of members, number of EMIs, EMI amount, organizer commission, bank interest rate, monthly payout details across members, and calculations for potential earnings when utilizing the chit fund amount. It provides two examples of members taking the chit fund in the second and fourth months respectively, showing the chit amount received, interest earned in the bank, remaining months in the chit, total bank interest, returns from the chit, potential commission from other chits, organizer commission, and overall benefits and returns in percentage terms.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Chit Funds Calculator

    Uploaded by

    kirans60
    2K views10 pages
    This document summarizes the details of a chit fund including the total chit amount, number of members, number of EMIs, EMI amount, organizer commission, bank interest rate, monthly payout details across members, and calculations for potential earnings when utilizing the chit fund amount. It provides two examples of members taking the chit fund in the second and fourth months respectively, showing the chit amount received, interest earned in the bank, remaining months in the chit, total bank interest, returns from the chit, potential commission from other chits, organizer commission, and overall benefits and returns in percentage terms.

    Original Description:

    calculates chit fund profits

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    This document summarizes the details of a chit fund including the total chit amount, number of members, number of EMIs, EMI amount, organizer commission, bank interest rate, monthly payout details across members, and calculations for potential earnings when utilizing the chit fund amount. It provides two examples of members taking the chit fund in the second and fourth months respectively, showing the chit amount received, interest earned in the bank, remaining months in the chit, total bank interest, returns from the chit, potential commission from other chits, organizer commission, and overall benefits and returns in percentage terms.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    2K views10 pages

    Chit Funds Calculator

    Uploaded by

    kirans60
    This document summarizes the details of a chit fund including the total chit amount, number of members, number of EMIs, EMI amount, organizer commission, bank interest rate, monthly payout details across members, and calculations for potential earnings when utilizing the chit fund amount. It provides two examples of members taking the chit fund in the second and fourth months respectively, showing the chit amount received, interest earned in the bank, remaining months in the chit, total bank interest, returns from the chit, potential commission from other chits, organizer commission, and overall benefits and returns in percentage terms.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
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    Total Chit Amount

    No. Of Chit members


    No.of EMIs (once per every member i.e. 1 x no.of members)
    EMI (Total Chit Amount/No.of Members or EMIs)
    Chit Organizer commission (5% of Chit amount every month)
    Current Bank Interest Rate for Regular FD (Annual)

    Totals

    Month Number

    EMI

    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20

    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500
    2500

    18

    50000

    Overall EMI Till that


    Month
    2500
    5019
    7558
    10116
    12694
    15292
    17910
    20548
    23206
    25885
    28585
    31305
    34046
    36809
    39593
    42398
    45225
    48073
    50944
    53836

    Bank interest
    Till Date
    19
    39
    58
    78
    98
    118
    138
    158
    179
    200
    220
    241
    262
    284
    305
    327
    349
    371
    393
    415
    4251

    Utilizing Chit fund to make more earnings


    You take the chit fund in the Fourth month
    In the Fourth month you take chit at bid amount of
    Amount you get on second month
    Monthly Interest if you deposit the amount in bank
    No. of Months left in your Chit
    Overall Bank interest you earn on the deposit you made of chit amount
    Your overall returns from Chits
    Say you have two commission chits occurred in overall chit cycle
    Worth of benefit you earn from commission chits
    Chit organizer commission to be removed

    Overall benefit returns from chit


    Overall benefit returns from chit (without organizer commission)
    Overall benefit
    Overall % benefit

    50000
    20
    20
    2500
    2500
    9.25

    Overall EMI with interest Till


    that Month
    2519
    5058
    7616
    10194
    12792
    15410
    18048
    20706
    23385
    26085
    28805
    31546
    34309
    37093
    39898
    42725
    45573
    48444
    51336
    54251

    nings
    4
    3000
    47000
    362
    16
    5797
    52797
    2
    5000
    2500

    55297
    57797
    7797
    15.6%

    Total Chit Amount


    No. Of Chit members
    No.of EMIs (once per every member i.e. 1 x no.of members)
    EMI (Total Chit Amount/No.of Members or EMIs)
    Chit Organizer commission (5% of Chit amount every month)
    Current Bank Interest Rate for Regular FD (Annual)

    Totals

    Month
    Number

    EMI

    Overall EMI Till that


    Month

    Bank interest Till Date

    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20

    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000
    15000

    15000
    30116
    45348
    60697
    76165
    91752
    107460
    123288
    139238
    155312
    171509
    187831
    204279
    220853
    237556
    254387
    271348
    288439
    305663
    323019

    116
    232
    350
    468
    587
    707
    828
    950
    1073
    1197
    1322
    1448
    1575
    1702
    1831
    1961
    2092
    2223
    2356
    2490

    18

    300000

    25509

    Utilizing Chit fund to make more earnings


    You take the chit fund in the second month
    In the second month you take chit at bid amount of
    Amount you get on second month
    Monthly Interest if you deposit the amount in bank
    No. of Months left in your Chit
    Overall Bank interest you earn on the deposit you made of chit amount
    Your overall returns from Chits
    Say you have two commission chits occurred in overall chit cycle

    Worth of benefit you earn from commission chits


    Chit organizer commission to be removed
    Overall benefit returns from chit
    Overall benefit returns from chit (without organizer commission)
    Overall benefit
    Overall % benefit

    300000
    20
    20
    15000
    15000
    9.25

    Overall EMI with


    interest Till that Month
    15116
    30348
    45697
    61165
    76752
    92460
    108288
    124238
    140312
    156509
    172831
    189279
    205853
    222556
    239387
    256348
    273439
    290663
    308019
    325509

    nings
    4
    20000
    280000
    2158
    16
    34533
    314533
    2

    30000
    15000
    329533
    344533
    44533
    14.8%

    total
    months
    interest

    500000
    20
    24%
    1
    17450
    25000
    6631

    2
    16500
    25000
    5940

    3
    13950
    25000
    4743

    4
    17750
    25000
    5680

    5
    18400
    25000
    5520

    6
    18650
    25000
    5222

    7
    19150
    25000
    4979

    8
    19200
    25000
    4608

    9
    19275
    25000
    4240.5

    10
    20200
    25000
    4040

    11
    21000
    25000
    3780

    12
    21450
    25000
    3432

    13
    22000
    25000
    3080

    14
    22500
    25000
    2700

    15
    23000
    25000
    2300

    16
    23500
    25000
    1880

    17
    24000
    25000
    1440

    18
    24500
    25000
    980

    19
    24500
    25000
    490

    20
    25000
    25000
    0

    411975
    71685.5
    483660.5
    16339.5

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