Multiple choice What is the interest on Rs. 500 for six months with a rate of 8% calculated 6 monthly? Rs. 20 Rs. 30 Rs. 48 Rs. 40 Reveal answer Fill a bubble to check yourself A Correct answer Explanation For 6 months at 8% per annum, the interest rate for the 6-month period is 4%. Simple interest = (Principal * Rate * Time) / 100 = (500 * 4 * 1) / 100 = 20.