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If the principle sum is Rs 8000 find the simple interest and the amount at the end of two years at the rate of 5%.
Given:
The principle sum is Rs 8000
The interest rate given is 5%
To find: We have to find the simple interest and also the amount at the end of 2 years.
Solution:
Principle = Rs 8000
Time = 2 yrs
Rate = 5%
Simple interest SI = $\frac{PTR}{100}$
= $\frac{8000 \times 2 \times 5}{100}$
= Rs $800$
Amount at the end of 2 yrs = $Principle + SI$
=$ 8000 + 800 = Rs8800$
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