if you deposit rs 500 in a bank at 8 p.c.p.a what interest will you get at the end of the year
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Given : deposit rs 500 in a bank at 8 p.c.p.a
To Find : interest at the end of the year
Solution:
P = 500 Rs
R = 8 % per annum
T = 1 year
SI = P * R * T /100
=> SI = 500 * 8 * 1 /100
=> SI = 5 * 8
=> SI = 40
interest at the end of the year = Rs 40
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