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