What sum (in ₹) will earn a simple interest of ₹240 in 3 years at 4% per year rate of interest?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 2000.
Simple interest: SI = (P × R × T)/100
⇒ 240 = (P × 4 × 3)/100 ⇒ P = 240 ÷ 0.12 = 2000