What is the total amount for 1,50,000/- at 2% per month  intrest for 12 years

To calculate the total amount for ₹1,50,000 at 2% per month interest over 12 years, we need to determine if the interest is simple or compound. Since the duration is long (12 years), let's assume it's compound interest (which is more common in such scenarios).

### Compound Interest Formula:
\[ A = P \times \left(1 + \frac{r}{100}\right)^n \]

Where:
- \( A \) is the total amount after interest.
- \( P \) is the principal amount (₹1,50,000).
- \( r \) is the monthly interest rate (2%).
- \( n \) is the total number of periods (months).

### Step 1: Convert years to months.
\[ 12 \text{ years} = 12 \times 12 = 144 \text{ months} \]

### Step 2: Apply the values to the formula.
\[ A = 1,50,000 \times \left(1 + \frac{2}{100}\right)^{144} \]

Let's calculate this.

The total amount after 12 years at 2% monthly interest on ₹1,50,000 would be approximately **₹25,97,263.38**.

Would you like more details on how this calculation was done, or do you have any other questions?

Here are 5 related questions you might find interesting:
1. What would the total amount be if the interest rate were 3% per month?
2. How would the total change if the interest were simple instead of compound?
3. What if the interest is compounded annually instead of monthly?
4. How much interest would you have earned at the end of the 12 years?
5. What is the effective annual interest rate for a 2% monthly interest rate?

**Tip:** Always clarify whether the interest is simple or compound, as it can significantly affect the final amount.

Learn how to calculate the total amount after 12 years with ₹1,50,000 at 2% monthly compound interest using the compound interest formula. Get a detailed explanation and example calculation here.

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