Given Principal amount P = Rs 550
Time period T = ½ year
Rate of interest R = 8% p.a.
We know that simple interest = (P × T × R)/100
On substituting these values in above equation we get
SI = (550 × ½ × 8)/100
= Rs 22
Total amount paid after ½ year = Principal amount + Interest
= Rs 550 + Rs 22
= Rs 572