The markup on Rs. 8000/- for 5 years at the rate of 7% per annum is ______?
The markup on Rs. 8000/- for 5 years at the rate of 7% per annum is ______?
Explanation
Markup = Principal × Rate × Time
= 8000 × 7/100 × 5
= 8000 × 0.07 × 5
= 8000 × 0.35
= 2800