How to calculate the interest rate in chit funds?

Question

ie, if the amount saved is different for every month and it is continued for 50 months then some amount will come after 50 months. Then how to calculate the correct interest rate?

Answer 1

for int. calculations these are only cheat funds ! so just collect whatever they give u and thanks them for that !

Answer 2

DO NOT FALL INTO THESE CHIT BUSINESS, ULTIMATELY YOU WILL BE CHEATED.

Answer 3

Nothing remains certain in such savings, amount and their receipts keep varying and at times actual receipt date are far different than those projected. Most of the transactions remain Ghapla (in-genuine)  and beyond any reasonable logic. You can arrive at some figure only after everything gets completed/over. Modern scientific interest calculations don't support "en bloc" these Chit Fund savings rates beforehand.