Notes

To calculate the interest on an education loan in SBI with the details you've provided, we will follow these steps:

### Given:
- **Semester fee** = ₹70,000
- **Number of semesters** = 8
- **Rate of interest (simple interest)** = 11.15% per annum
- **Loan tenure** = 4 years (for 8 semesters)

### Assumptions:
1. The loan is disbursed every semester in equal parts of ₹70,000 (each semester).
2. The loan is repaid after the course completion, so interest will be calculated on the outstanding amount for each semester, not considering any early repayments during the course.
3. Simple interest formula:
text{Interest} = P times R times T / 100
where:
- **P** = Principal amount (loan amount)
- **R** = Rate of interest per annum
- **T** = Time period in years

### Breakdown:
1. **Loan Disbursement for Each Semester:**
Every semester, ₹70,000 is taken as a loan. So the total loan amount after 8 semesters will be:
[
70,000 times 8 = ₹5,60,000
]

2. **Interest Calculation for Each Semester:**

Since interest is simple interest, the interest is calculated individually for each semester’s loan amount.
The total interest will depend on how long the principal remains outstanding.

- **First semester:** Loan of ₹70,000 will be outstanding for 4 years.
- **Second semester:** Loan of ₹70,000 will be outstanding for 3.5 years.
- **Third semester:** Loan of ₹70,000 will be outstanding for 3 years.
- **Fourth semester:** Loan of ₹70,000 will be outstanding for 2.5 years.
- **Fifth semester:** Loan of ₹70,000 will be outstanding for 2 years.
- **Sixth semester:** Loan of ₹70,000 will be outstanding for 1.5 years.
- **Seventh semester:** Loan of ₹70,000 will be outstanding for 1 year.
- **Eighth semester:** Loan of ₹70,000 will be outstanding for 0.5 years.

3. **Calculate Interest for Each Loan Component:**

Using the simple interest formula:
text{Interest} = P times R times T / 100

**Interest for each semester’s loan:**

- **For the 1st semester (₹70,000 for 4 years):**

I_1 = 70,000 times 11.15 times 4 / 100 = ₹31,220

- **For the 2nd semester (₹70,000 for 3.5 years):**

I_2 = 70,000 times 11.15 times 3.5 / 100 = ₹27,410

- **For the 3rd semester (₹70,000 for 3 years):**

I_3 = 70,000 times 11.15 times 3 / 100 = ₹23,430

- **For the 4th semester (₹70,000 for 2.5 years):**

I_4 = 70,000 times 11.15 times 2.5 / 100 = ₹19,525

- **For the 5th semester (₹70,000 for 2 years):**

I_5 = 70,000 times 11.15 times 2 / 100 = ₹15,610

- **For the 6th semester (₹70,000 for 1.5 years):**

I_6 = 70,000 times 11.15 times 1.5 / 100 = ₹11,695

- **For the 7th semester (₹70,000 for 1 year):**

I_7 = 70,000 times 11.15 times 1 / 100 = ₹7,805

- **For the 8th semester (₹70,000 for 0.5 years):**

I_8 = 70,000 times 11.15 times 0.5 / 100 = ₹3,905

4. **Total Interest:**

Now, let's add up all the interests calculated for each semester:

text{Total Interest} = ₹31,220 + ₹27,410 + ₹23,430 + ₹19,525 + ₹15,610 + ₹11,695 + ₹7,805 + ₹3,905 = ₹140,600


### Conclusion:
The total interest that would be charged on the education loan (for ₹70,000 disbursed each semester over 8 semesters) at a simple interest rate of 11.15% over 4 years would be approximately ₹140,600.

So, the total repayment amount at the end of the loan tenure (principal + interest) would be:

text{Total Repayment} = ₹5,60,000 + ₹1,40,600 = ₹7,00,600

for 5 year 11.15% of 5,60,000 = 62,600
₹7,00,600 + 62,600 = 7,63,200 actuall fee after 5 year