Reema took a loan of Rs 8000 from a money lender, who charged interest at the rate of 1% per annum
2 years, Reema paid him Rs 10400 and wrist watch to clear the debt. What is the price of the watch
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principal= ®8,000
rate of interest= 1% P.A
time= 2years
simple interest=
P×R×T
____________
100
=} 8000×1×2
____________________
100
=} ®160
=} 10,400 + 8,000 = 18,400
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