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I had borrowed hba of rs.150000 in the year feb 1996 2int.rate of 8.5% what is out standing pricipal amount?

i had borrowed hba of rs.150000 in the year feb 1996 2int.rate of 8.5% what is out standing pricipal amount and instret amount

As on 1.4.2008 @8.5% compound interest on Rs.1.5 lakhs.

@8.5% half yearly compounding interest it will be around Rs.2,63,197 total Rs. 4,13,197

@8.5% with yearly commpounding interest it will be around Rs.2,54,915 total Rs.4,04,915.

Interest will always be compounding interest. Few departments will calculate interest once in 6 months and few departments will calculate interest once in a year.

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