## Adi borrowed Rs. 20,000 at 8% per annum for 2 years. How much interest does he have to pay after 2 years

Question

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## Answers ( )

Answer:₹3,200

Step-by-step explanation:Simple interest = Principle × Rate of interest × Time ÷ 100

Here , Principle = 20,000

Rate of interest = 8%

Time = 2

Simple interest = 20,000 × 8 × 2 / 100

= 20,000 × 8 = 1,60,000

= 1,60,000 × 2 = 3,20,000

= 3,20,000 ÷ 100

= ₹3,200