50000 need to pay in 12 equal instalments with 13%interest..my question is what is the amount to be paid every month for 12 months ?

4708.333 will be paid each month in 12 instalments

Total Interest Amount would be 13% of 50000 i.e 6500, the total sum to be in 12 months (including interest) 56500. hence EMI ill be 56500/12 i.e 4708.33333.