Question

A sum of Rs. 1000 is invested at 8% simple interest per year . Find the interest at the end of 2nd year:...........................?

Answer 1

simple interest =( p×n×r)÷100
here p 1000
n 2
r 8
so simple interest = (1000×2×8)÷100
= 16000÷100
= 160
so the simple interest is rs160

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Answer 2

P=1000 rupees
R=8%
T=2years
Simple Intrest =?
Simple Intrest =P×R×T÷100
=1000×8×2÷100
=16000÷100
=160
Ans) Simple intrest is rupees 160