Find the simple interest (in ₹) on ₹4000 as a sum borrowed at 4% per year rate of interest for 6 years.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 960.
Simple Interest = (P × R × T) / 100
= (4000 × 4 × 6) / 100
= 960