Question

Mayank deposit rupees 5000 in a bank got 800 as interest if the bank pays 8% interest for how long did he deposit the money​

Answer 1

P=5000

I=800

R=8%

T=?

I=PTR÷100

800=5000×T×8

800=400 T

T=800÷400

=2 years

Answer 2

P=5000

SI=800

R=8%

Time= (SI X 100)/(8 X 5000)

=800 X 100 / 8 X 5000

=80000 / 40000

= 2

Time for 5000 @ 8% with SI 800 is 2 years