a person deposit an amount of 100rupees in a bank at an annual simple interest rate 8percentage. how much interest does he get for this amount at the end of the first year

Step 1: Identify the given values The principal amount (P) is 100 rupees. The annual simple interest rate (R) is 8%. The time period (T) is 1 year. Step 2: Apply the simple interest formula The formula for simple interest is: SI = (P × R × T)/(100) Substitute the given values into the formula: SI = (100 × 8 × 1)/(100) Step 3: Calculate the simple interest SI = 800/100; SI = 8 The interest the person gets at the end of the first year is 8 rupees.

a person deposit an amount of 100rupees in a bank at an annual simple interest rate 8percentage. how much interest does he get for this amount at the end of the first year

Step 1: Identify the given values The principal amount (P) is 100 rupees. The annual simple interest rate (R) is 8%. The time period (T) is 1 year. Step 2: Apply the simple interest formula The formula for simple interest is: SI = (P × R × T)/(100) Substitute the given values into the formula: SI = (100 × 8 × 1)/(100) Step 3: Calculate the simple interest SI = 800/100; SI = 8 The interest the person gets at the end of the first year is 8 rupees.

Solved: A person deposit an amount of 100rupees in a bank…

Identify the given values
The principal amount (P) is 100 rupees.
The annual simple interest rate (R) is 8%.
The time period (T) is 1 year.
Apply the simple interest formula
The formula for simple interest is:
$\text{SI} = \frac{P \times R \times T}{100}$
Substitute the given values into the formula:
$\text{SI} = \frac{100 \times 8 \times 1}{100}$
Calculate the simple interest
$\text{SI} = \frac{800}{100}$ $\text{SI} = 8$
The interest the person gets at the end of the first year is 8\ rupees.

A person deposit an amount of 100rupees in a bank at an annual simple interest rate 8percentage. how much interest does he get for this amount at the end of the first year

Answer

Step-by-step solution

Identify the given values

Apply the simple interest formula

Calculate the simple interest

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