Find the simple interest (in ₹) on ₹2500 as a sum borrowed at 7% per year rate of interest for 3 years.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 525.
SI = (P × R × T) / 100
⇒ (2500 × 7 × 3) ÷ 100 = (52500) ÷ 100 = ₹525