Question

Find the simple interest (in ₹) on ₹3500 as a sum borrowed at 3% per year rate of interest for 2 years.

• A. 210
• B. 150
• C. 250
• D. 170

Answer 1

Answer:

A. 210

Use the simple interest formula:

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

Where:
(P = 3500), (R = 3%), (T = 2) years

$SI = \frac{3500 \times 3 \times 2}{100}$
$= \frac{21000}{100}$
= 210

Final Answer:

₹210