Question

4. Rakesh borrowed 50,000 from Allahabad Bank to buy a two-wheeler at 8% p.a.
compounded annually. What amount will he pay to the bank after 3 years to discharge his
debt?​

Answer 1

Answer:

62,000 rupees

Step-by-step explanation:

P = 50,000

R = 8%

T = 3 years

A = ?

I = PRT/100 = 50000 * 8 * 3 /100 = 12,000

A = P+ I = 50000 + 12000 = 62,000 rupees

Answer 2

Answer:

62985.6 is the answer

Step-by-step explanation: