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