Find the simple interest (in ₹) on ₹3500 as a sum borrowed at 6% per year rate of interest for 2 years.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 420.
Simple Interest = (Principal × Rate × Time) ÷ 10 = (3500 × 6 × 2) ÷ 100 = 420