What is the simple interest on Rs. 10,000 at a rate of 8% per annum for 2 years?
- Rs. 800
- Rs. 1,200
- Rs. 1,600
- None of these
Explanation
Formula: SI = (P × R × T) / 100
SI = (10,000 × 8 × 2) / 100 = Rs. 1,600
Last verified on 05-09-2026
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