Question

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:

SI =P×R×T

Step-by-step explanation:

50000×8×3/100

4000×3

12000

Answer 2

Answer:

P=rs.50000

R=8%p.a.

T=3 years

S.I.=P*R*T/100

=50000*8*3/100

=500*24

=12000rs.

amount=P+S.I.

=50000+12000

=62000