Question

FIND THE SIMPLE INTEREST ON RS 1000 FOR 2 YEAR AT 8%PER ANUM​

Answer 1

Hence, Simple Interest is Rs. 160.27

Answer 2

Answer:

You want to calculate the interest on $1000 at 8% interest per year after 2 year(s).

The formula we'll use for this is the simple interest formula, or:

Where:

P is the principal amount, $1000.00.

r is the interest rate, 8% per year, or in decimal form, 8/100=0.08.

t is the time involved, 2....year(s) time periods.

So, t is 2....year time periods.

To find the simple interest, we multiply 1000 × 0.08 × 2 to get that:

The interest is: $160.00

Usually now, the interest is added onto the principal to figure some new amount after 2 year(s),

or 1000.00 + 160.00 = 1160.00. For example:

If you borrowed the $1000.00, you would now owe $1160.00

If you loaned someone $1000.00, you would now be due $1160.00

If owned something, like a $1000.00 bond, it would be worth $1160.00 now.