Question

A man deposited 5000 in a post office and got ? 800 as interest. If the post office pays 8% per annum as interest, for how long did he deposit the money?​

Answer 1

Answer:

8% of 5000=interest per annum

$5000 \times \frac{8}{100}$

$50 \times 8 = 400$

let,

the time he deposited money =x

$400 \times x = 800$

$x = \frac{800}{400}$

$x = 2$

for 2 years he deposited money