Question

Abank is calculating compound interest half yearly. Annual rate of interest is 8%.
From the bank a man borrowed Rs. 50,000 for 12 years. After the duration how
much he should paid to clear the liability.​

Answer 1

Step-by-step explanation:

principal amount =50,000

time = 12 years

rate of interest = 8%

compounded half yearly

Amount =P(1+R/2/100)^2n

= 50,000(1+8/2/100)^2×12

=128000