The principal amount is Rs. 8,000, and the rate of interest is 10% per annum. If the simple interest earned is Rs. 2,000, find the time period (in years).

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Information Given in the Question:
Principal (P) = Rs. 8000
Rate of interest (R) = 10% per annum
Simple Interest (SI) = Rs. 2000
Need to find Time (T) in years
Concept/Formula Used in the Question:
Simple Interest (SI) = $$\frac{P \times R \times T}{100}$$​
$$T = \frac{SI \times 100}{P \times R}$$​
Detailed Explanation:
Given:
SI = 2000
P = 8000
R = 10%
Let time period be T
Substitute in formula:
$$T = \frac{2000 \times 100}{8000 \times 10}$$

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​$$T = \frac{200000}{80000}$$​
T = 2.5 years