Step 1: Define magnification.
Magnification is the image size divided by the real size of the object.
Step 2: State the real size.
The actual red blood cell is $8\ \mu m$ across.
Step 3: Read the image size.
From the scale on the picture the drawn cell measures about $2$ cm wide. Converting, $2$ cm is $20000\ \mu m$.
Step 4: Divide.
\[ \text{Magnification} = \frac{20000}{8} = 2500 \]
Step 5: Answer.
\[ \boxed{2500} \]