Find the simple interest (in ₹) on ₹2500 as a sum borrowed at 5% per year rate of interest for 6 years.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e 750.
SI = (P × R × T) / 100
Where:
P = Principal = ₹2500
R = Rate = 5%
T = Time = 6 years
SI = (2500 × 5 × 6) / 100
SI = 75000 / 100 = ₹750