Question

If you deposited 500 ruppes at a bank account at 8 p.c.p.a what interest will you get at the end of the year

Answer 1

Ans.

Amount = Rs 500
Rate = 8%
Time = 1 year

Interest after a year is
= (Amount × Rate × Time)/100
= (500 × 8 × 1)/100
= Rs. 40

Answer 2

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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