Find the simple interest (in ₹) on ₹3000 as a sum borrowed at 7% per year rate of interest for 3 years.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 630.
SI = (P × R × T) / 100
P = ₹3000, R = 7%, T = 3 years
SI = (3000 × 7 × 3) / 100 = ₹630