Question

Find the simple interest (in ₹) on 2000 as a sum borrowed at 8% per year rate of interest for 2 years.

• A. 280
• B. 320
• C. 360
• D. 260

Answer 1

Answer:

B. 320

Use the simple interest formula:

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

$\text{SI} = \frac{2000 \times 8 \times 2}{100}$

$\text{SI} = \frac{32000}{100} = 320$

Answer: ₹320