M took a loan of Rs. 6,00,000 on 1.4.2011 from a bank for construction – McqOptions

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1.	M took a loan of Rs. 6,00,000 on 1.4.2011 from a bank for construction of a house. The loan carries an interest @ 10% p.a. The construction is completed on 15.6.2013. The entire loan is still outstanding. Compute the interest allowable for the assessment year 2020- 21
A.	Rs. 60,000
B.	Rs. 1,80,000
C.	Rs. 84,000
D.	Rs. 24,000
Answer» D. Rs. 24,000

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