Multiple choice

Rahim deposit a sum of rupees 3000 for 5 year. If the rate of simple interest is 4% pa. Find the total interest after 5 year.

  1. $600$
  2. $500$
  3. $700$
  4. $None of these$
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A Correct answer
Explanation

Use Simple Interest = PRT/100. Principal P = 3000, Rate R = 4%, Time T = 5 years. SI = 3000 × 4 × 5 ÷ 100 = 600. This is direct application of the SI formula. Option B (500) would be the result if time was 4 years, and option C (700) is not obtainable from the given data.

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