Find the simple interest (in ₹) on ₹3500 as a sum borrowed at 3% per year rate of interest for 5 years.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e 525.
SI = (P × R × T) ÷ 100
SI = (3500 × 3 × 5) ÷ 100 = 52500 ÷ 100 = ₹525