Find the simple interest (in ₹) on ₹2500 as a sum borrowed at 8% per year rate of interest for 2 years.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 400.
Simple Interest = (Principal × Rate × Time) ÷ 100
Simple Interest = (2500 × 8 × 2) ÷ 100 = ₹400