Question

₹2000 for 2 years at 8% per Annum

Answer 1

Principal (P) = Rs 2000

Time (T) = 2 years

Rate of interest (R) = 8%

Let simple Interest = I

I = ( PTR)/100

=> I = ( 2000 × 2 × 8 )/100

= 20 × 2 × 8

= Rs 320

Amount (A) = P + I

= Rs 2000 + Rs 320

= Rs 2320

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