Question

Akbar deposited Rs 520 in a bank which pays interest at the rate of 8 percent per
annum. Find the interest and the amount to be received by him after 2 years​

Answer 1

GiVeN :-

• Principal (P) = 520

• Rate (R) = 8%

• Time (T) = 2 years

To FinD :-

• Interest (I)

• Amount (A)

SoLuTiOn :-

We know that,

• Simple Interest (SI) = PRT/100

So,

Simple Interest =

$\implies \: \frac{520 \times 8 \times 2}{100} \\ \\ \implies \: \frac{8320}{100} = 83.2$

So,

Simple Interest (SI) = 83.2

We know that,

Amount(A) = Principal(P) + Interest(I)

Amount (A) = 520+83.2 = 603.2

Answer 2

Given :-

Akbar deposited Rs 520 in a bank which pays interest at the rate of 8 percent per

annum.

To find :-

Find the interest and the amount to be received by him after 2 years

Solution :-

• Principal = Rs.520
• Rate = 8%
• Time = 2 year

As we know that

Simple Interest = P × R × T/100

=> S.I = 520 × 8 × 2/100

=> S.I = 8320/100

=> S.I = Rs.83.2

Amount = Principal + Interest

Amount = Rs.520 + Rs.83.2

Amount = Rs.603.2

Some Formulae :-

★ Loss = Cost price - selling price

★ Gain = Selling price - cost price

★ Loss% = loss/C.P × 100

★Gain% = gain/C.P × 100

★ Discount%=Discount/Marked price×100