Question

Find the simple interest (in ₹) on ₹3000 as a sum borrowed at 6% per year rate of interest for 5 years.

• A. 940
• B. 840
• C. 900
• D. 860

Answer 1

Answer:

C. 900

Simple Interest formula:
$SI = \frac{P \times R \times T}{100}$

Given:

• (P = 3000)

• (R = 6%)

• (T = 5) yearsCalculation:

$SI = \frac{3000 \times 6 \times 5}{100}$

$SI = \frac{90000}{100} = 900$

Final Answer: ₹900