Multiple choice

What is the simple interest on Rs. 2730 at the rate of 2% p.a. for 10 years?

  1. Rs. 296

  2. Rs. 646

  3. Rs. 446

  4. Rs. 546
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Simple interest is calculated as (Principal * Rate * Time) / 100. Here, (2730 * 2 * 10) / 100 = 273 * 2 = 546.

AI explanation

Using the simple interest formula, the interest is calculated as Principal times Rate times Time divided by 100, which is 2730 times 2 times 10 divided by 100. Multiplying these values gives 54600 divided by 100, which equals 546.

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