Find the simple interest earn on a deposit of Rs. 8000 for 7 years at

1.	Find the simple interest earn on a deposit of Rs. 8000 for 7 years at 5% per annum.
Answer» Answer: Rs. 3200 Step-by-step explanation: The formula we'll use for this is the simple interest formula, or: i = p × r × t P is the principal AMOUNT, Rs. 8000.00. r is the interest RATE, 5% per year, or in decimal form, 5/100=0.05. t is the TIME INVOLVED, 8....year(s) time periods. So, t is 8....year time periods. To FIND the simple interest, we multiply 8000 × 0.05 × 8 to get that: The interest is: Rs.3200.00 Usually now, the interest is added onto the principal to figure some new amount after 8 year(s),

Find the simple interest earn on a deposit of Rs. 8000 for 7 years at 5% per annum.

Answer»

Answer:

Rs. 3200

Step-by-step explanation:

The formula we'll use for this is the simple interest formula, or:

i = p × r × t

P is the principal AMOUNT, Rs. 8000.00.

r is the interest RATE, 5% per year, or in decimal form, 5/100=0.05.

t is the TIME INVOLVED, 8....year(s) time periods.

So, t is 8....year time periods.

To FIND the simple interest, we multiply 8000 × 0.05 × 8 to get that:

The interest is: Rs.3200.00

Usually now, the interest is added onto the principal to figure some new amount after 8 year(s),