Find the simple interest (in ₹) on ₹2000 as a sum borrowed at 6% per year rate of interest for 5 years.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 600.
Simple Interest = (Principal × Rate × Time) ÷ 100
Simple Interest = (2000 × 6 × 5) ÷ 100 = ₹600