Question

Find the simple interest (in ₹) on ₹2500 as a sum borrowed at 3% per year rate of interest for 6 years.

• A. 410
• B. 390
• C. 490
• D. 450

Answer 1

Answer:

D. 450

We use the Simple Interest formula:

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

Where:

• (P = 2500)

• (R = 3%)

• (T = 6) years

  Substitute values

$SI = \frac{2500 \times 3 \times 6}{100}$

Calculate

$2500 \times 3 = 7500$
$7500 \times 6 = 45000$
$SI = \frac{45000}{100} = 450$

Final Answer: ₹450