Find the simple interest (in ₹) on ₹2000 as a sum borrowed at 7% per year rate of interest for 5 years.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e 700.
Simple Interest = (Principal × Rate × Time) ÷ 100 = (2000 × 7 × 5) ÷ 100 = 700