Question

Find the simple interest (in ₹) on ₹2000 as a sum borrowed at 7% per year rate of interest for 4 years.

• A. 600
• B. 500
• C. 520
• D. 560

Answer 1

Answer:

D. 560

Use the simple interest formula:

$SI = \frac{P \times R \times T}{100}$

$SI = \frac{2000 \times 7 \times 4}{100}$

$SI = \frac{56000}{100} = 560$

Final Answer: ₹560