Question

Find the simple interest (in ₹) on ₹4000 as a sum borrowed at 3% per year rate of interest for 6 years.

• A. 720
• B. 660
• C. 760
• D. 680

Answer 1

Answer:

A. 720

Use the simple interest formula:

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

Here, (P = 4000), (R = 3%), (T = 6) years

$\text{SI} = \frac{4000 \times 3 \times 6}{100}$
$\text{SI} = \frac{72000}{100} = 720$