find the interest on Rs 500 of a period of 4 years @ 8% per annum also find the amount to be paid at the end of the period
Answers
660
Step-by-step explanation:
simple intrest ptr/100
50*4*8/100=160
amount =principle +si
160 +500 = 660
Given:
Principal Amount (P) = Rs. 500
Rate of interest (R) = 8 %
Time period the number of years (T) = 4 years
To Find:
The Rate Of Simple Interest
Amount Paid At Then End Of The Period
Calculating:
The formula that we use to calculate simple interest:
Simple Interest = P x T x R / 100
Substituting the values known to us in this formula we get:
= 500 × 4 × 8 / 100
= 5 x 4 x 8
= 20 x 8
= Rs. 160
Therefore, he would get Rupees 160 as the rate of simple interest.
Formula used to calculate the total amount:
= Principal Amount + Interest
Substituting the values known to us in this formula we get:
= 500 + 160
= Rs. 660
Therefore, the total amount received at the end of the time period is Rupees 660.