Find the simple interest (in ₹) on ₹3000 as a sum borrowed at 9% per year rate of interest for 4 years.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 1080.
Simple Interest = (Principal × Rate × Time) ÷ 100 = (3000 × 9 × 4) ÷ 100 = 108000 ÷ 100 = ₹1080