Question

what will be the amount on Rs 500 at 8 p.c.p.a. after 2 years

Answer 1

Interest = PTR/100
=500×24×8/100
=12000×8/100
=96000/100
=960 Rs

Answer 2

Given - Principal, rate of interest and time

Find - Amount

Solution - The amount on given principal is Rupees 80. The two formulas will be used to calculate the amount. Firstly we will be finding interest followed by taking sum of prinicpal and interest to find total amount.

Thus, Interest = principal*rate*time/100

Interest = 500*8*2/100

Interest = 80

So, finding amount now.

Amount = Principal + Interest

Amount = 500 + 80

Amount = Rupees 80.

Thus, amount on given principal is Rupees 80.