Question

500 will yield Rs 238 interest in 8 years

Answer 1

Prt/100 is formula use please

Answer 2

P=500

I=238

T=8 years.

You neee to find the rate of interest.

The formula is R=(I×100)/(P×T)

R= (238×100)/(500×8)

R=119/20

On solving further we get Rate of interest as 5.95%

Hope it helps