Question

Find the simple interest rate 1000 for 2 years at 8% per annum​

Answer 1

Answer:

Given :-

• A sum of Rs 1000 for 2 years at the rate of 8% per annum.

To Find :-

• What is the simple interest.

Formula Used :-

$\clubsuit$ Simple Interest or S.I Formula :

$\bigstar \: \: \sf\boxed{\bold{\pink{S.I =\: \dfrac{P \times r \times t}{100}}}}\: \: \: \bigstar$

where,

• S.I = Simple Interest
• P = Principal
• r = Rate of Interest
• t = Time Period

Solution :-

Given :

• Principal = Rs 1000
• Rate of Interest = 8% per annum
• Time Period = 2 years

According to the question by using the formula we get,

$\implies \sf \bold{\pink{S.I =\: \dfrac{P \times r \times t}{100}}}$

$\implies \sf S.I =\: \dfrac{1000 \times 8 \times 2}{100}$

$\implies \sf S.I =\: \dfrac{1000 \times 16}{100}$

$\implies \sf S.I =\: \dfrac{160\cancel{00}}{1\cancel{00}}$

$\implies \sf S.I =\: \dfrac{160}{1}$

$\implies \sf\bold{\red{S.I =\: Rs\: 160}}$

$\therefore$ The simple interest is Rs 160 .

Answer 2

Explain with formula