Find the simple interest (in ₹) on ₹3000 as a sum borrowed at 3% per year rate of interest for 6 years.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 540.
Simple Interest (SI) = (Principal × Rate × Time) / 100
= (3000 × 3 × 6) / 100
= 540