Question

Find the simple interest (in ₹) on ₹3500 as a sum borrowed at 5% per year rate of interest for 5 years.

• A. 835
• B. 875
• C. 815
• D. 915

Answer 1

Answer:

B. 875

Simple Interest is calculated by:

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

Where:

• (P = 3500)

• $(R = 5\%)$

• (T = 5) years

$SI = \frac{3500 \times 5 \times 5}{100}$
$SI = \frac{87500}{100} = 875$

Final Answer:

₹875