find the interest on rupee 500 for a period of 4 years at the rate of 8% per annum. Also, find the amount to be paid at the end of the period.
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Principal (P) = Rs 500
Rate of interest (R) = 8% p.a.
Time (T) = 4 years
Simple interest = p*t*r/100
=>500*8*4/100
=Rs. 160
Total amount paid = Principal amount + Interest = Rs 500 + 160 = Rs 660
Rate of interest (R) = 8% p.a.
Time (T) = 4 years
Simple interest = p*t*r/100
=>500*8*4/100
=Rs. 160
Total amount paid = Principal amount + Interest = Rs 500 + 160 = Rs 660
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