Answer: 8
Step-by-step explanation:
Given
Money deposited [tex]P=200[/tex]
Interest rate [tex]R=4\%[/tex]
Time period [tex]T=1\ yr[/tex]
For a year simple and compound interest is the same
[tex]\therefore \text{Interest}=\dfrac{P\times R\times T}{100}\\\\\Rightarrow \text{Interest}=\dfrac{200\times 4\times 1}{100}\\\\\Rightarrow 8[/tex]
Thus, interest earned is 8 units
