Find the simple interest (in ₹) on ₹3000 as a sum borrowed at 4% per year rate of interest for 2 years.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e 240.
SI = (Principal × Rate × Time) / 100
SI = (3000 × 4 × 2) / 100 = 240