Hello pranjal
I noticed in your example that there were one or two anomalies.
1. You have an interest rate of 11.4 %, and you should divide this by 100 before using it to calculate the amount of interest, otherwise it is overstated. In your example you are getting accrued interest of over 3% per day!
2. Also it is coustomary to use the compound rather than the simple interest method, so:
Interest for 22/10/2014 = 100000 x 0.00031233 = 100031.233
Interest for 23/10/2014 = 105031.233 x 0.00031233 = 105064.03740500
The method of calculating that i think you need is as follows
RV=LV * (1+(AIR/365))^LP
RV = Repayment Value Cell D2 = 5209.70
LV = Loan Value Cell A2 = 5000.00
AIR = Annual Interest Rate Cell B2 = 20%
LP = Loan Period (days) Cell C2 = 75
Formula for D2 is: = A2 * POWER(1 +(B2/365),C2) This give the amount to repay when the loan completes 75 days, and to calculate the same for a different period, simply amend the number of days applied.