What is the interest rate on Rs. 1000 over a two-year period at an annual rate of 8%?

Given, Principal amount, P = Rs 1000

Time period, T = 2 years

Rate of interest, R = 8% p.a.

Simple interest = $\frac{\mathrm{P} \times \mathrm{T} \times \mathrm{R}}{100}$

S.I. = $\frac{1000 \times 2 \times 8}{100}$

S.I. = Rs 160

Hence, the correct answer is Rs 160.