Question

What will be the interest on Rs 5000 for 2 years at the rate of 8% p.a.​

Answer 1

ANSWER:-

Step-by-step explanation:

Given:

P= Rs. 5000

R= 8% p.a.

T=2 years

Formula to be used= CI=P(1+R/100)^n-P

∴ CI=P(1+R/100)^n-P

∴CI=5000(1+8/100)^2-5000

∴CI=5000(108/100)^2-5000

∴CI=5000*108/100*108/100-5000

∴CI=5832-5000

∴CI=832

Answer: The interest on Rs 5000 for 2 years at the rate of 8% p.a.​ will be Rs. 832.

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