Find the simple interest (in ₹) on ₹4000 as a sum borrowed at 4% per year rate of interest for 4 years.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e 640.
Simple Interest = (Principal × Rate × Time) ÷ 100 = (4000 × 4 × 4) ÷ 100 = 640