Find the simple interest (in ₹) on ₹3500 as a sum borrowed at 3% per year rate of interest for 6 years.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e 630.
Simple Interest (SI) = (P × R × T) / 100
SI = (3500 × 3 × 6) / 100
SI = 63000 / 100 = ₹630