Rs 5000 is deposited at the rate of 8% per annum simple interest for 2 years. Find the interest and amount at the end of 2 years.
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Principal = Rs.5000
Time = 2 years
Rate = 8%
Simple interest = Principal × Time × Rate
100
= 5000 × 2 × 8 = 800
100
Simple Interest = Rs. 800
Amount = Principal + Simple interest
= 5000 + 800 = 5800
Amount = Rs. 5800
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