Find the simple interest (in ₹) on ₹3000 as a sum borrowed at 8% per year rate of interest for 3 years.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e 720.
Simple Interest = (Principal × Rate × Time) ÷ 100 = (3000 × 8 × 3) ÷ 100 = 720