Calculate bidding rates, profits, and find the best month to bid
| Month | BID Amount | Dealer Commission | Payable Installment | Bidder Gets | Profit/Loss | Monthly % | Total Percentage Profit/Loss (20 Months) | Annual Simple Interest Rate |
|---|---|---|---|---|---|---|---|---|
| Enter values and click Submit to generate analysis | ||||||||
| Total | - | - | ₹0 | - | - | - | - | - |
| Month | Bid Amount | Amount Received | Chit Benefit | External Benefit | External Benefit % | Total Benefit | Total % | Monthly % | Annual % | Rank |
|---|
Chit Amount (Total Value): ₹40,00,000
Total Months: 20
Organizer Commission: ₹1,60,000 (which is 4% of the total chit amount)
Monthly Installment: ₹2,00,000 per member.
Here is a step-by-step explanation of the auction and its outcomes:
Amount Received by Bidder: The winning bidder received ₹27,30,000.
Bid Amount: To get this amount, the winner agreed to a discount (the bid). This bid amount is calculated by subtracting the received amount from the total chit value.
₹40,00,000 (Total Chit) - ₹27,30,000 (Received Amount) = ₹12,70,000
Bid Rate: This bid amount represents a 31.75% discount on the total chit amount.
(₹12,70,000 ÷ ₹40,00,000) × 100 = 31.75%
Dividend per Member: The total amount available for a dividend is the bid amount minus the organizer's commission. This amount is then shared equally among all 20 members.
(₹12,70,000 (Bid Amount) - ₹1,60,000 (Commission)) ÷ 20 (Members) = ₹55,500
Net Installment: Each member's monthly installment is reduced by the dividend.