Find the simple interest (in ₹) on ₹3000 as a sum borrowed at 9% per year rate of interest for 6 years.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e 1620.
Simple Interest = (Principal × Rate × Time) ÷ 100
⇒ (3000 × 9 × 6) ÷ 100
⇒ (162000) ÷ 100 = ₹1620