Question

Principal = 16,000; Time = 2 years; Rate = 8%
per annum.​

Answer 1

$si = \frac{P \times R \times T}{100} \\ \: \: \: \: \: \: \: = \frac{16000 \times 2 \times 8}{100} \\ = 160 \times 2 \times 8 \\ = 160 \times 16 = 2560$

So amount will be P + SI = 16000 + 2560= 18560 Rs.