So, I subnet the given ip address 192.168.1.0/24 into 8 subnets 192.168.1.

0/27 with 30
hosts (close to the 20 hosts requirement) as follow:
192.168.1.0 -usable 192.168.1.1-192.168.1.31 /27
192.168.1.32-usable 192.168.1.33-192.168.1.62 /27
192.168.1.64-usable 192.168.1.65-192.168.1.90 /27
192.168.1.92-usable 192.168.1.93-192.168.1.122/27
192.168.1.124
.....
since the network between R1 and R2 only needs 2 hosts, so I subnet the sub network
192.168.1.92 /27 to 192.168.1.92 /30 giving me 2 ip addresses of
192.168.1.93 /30 and 192.168.1.94 /30 which I assign R1 & R2's serial interface s0/0/0
my ip address assignment as per the requirement as follow:
R1 fa0/0 192.168.1.33 /27
s0/0/0 192.168.1.93 /30
R2 fa0/0 192.168.1.65 /27
s0/0/0 192.168.1.94 /30
PC1 NIC 192.168.1.62 /27 gateway=192.168.1.33
PC2 NIC 192.168.1.90 /27 gateway=192.168.1.65
am I doing alright so far? but when I assigned ip address for fa0/0 on R2 and turn it on, I
got an error

ANSWER
For the most part your subnetting looks pretty good as a /27 does meet the requirements
of 20 hosts on the network. As you noted you are working in increments of 32, so the
problem that you're facing comes in to play when you've figured out the 3rd usable
subnet. You've got it listed as 192.168.1.92, but increments of 32 get you 0, 32, 64, 96.
So your math is just a little off. That's why when you are trying to assign 192.168.1.94/30
to your serial interface it is overlaping with 192.168.1.65/27 on you Fa interface. As far
as the router is concerned the network that the fa is connected to consists of 192.168.1.64
- 192.168.1.95. That's why you're getting the error.
Just be more careful with the incrementing and it looks like you've got it.
Another thing to note, as it may come up on the exam...
The instructions tell you to assign addresses from the 2nd subnet to the WAN link and
addresses from the 3rd subnet to the LAN side of R2. You've done them the opposite
way. You've assigned the 3rd subnet to the WAN and the 2nd to the LAN side of R2.
As it's important for the exams, make sure you pay attention to the little details of what
the question wants you to do.