Find the simple interest (in ₹) on ₹3500 as a sum borrowed at 5% per year rate of interest for 2 years.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e 350.
Simple Interest = (P × R × T) / 100
SI = (3500 × 5 × 2) / 100 = 35 × 2 = ₹350