Multiple choice

Simple interest on Rs3000 at the rate 5% per annum for 2 years is

  1. Rs 300

  2. Rs 400

  3. Rs 600

  4. Rs 200
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A Correct answer
Explanation

Simple interest is calculated as (Principal * Rate * Time) / 100. Plugging in the values: (3000 * 5 * 2) / 100 = 30000 / 100 = 300.

AI explanation

Using the simple interest formula of P times R times T divided by 100, the calculation is 3000 times 5 times 2 divided by 100. Multiplying these numbers gives 300, which is the interest in rupees.

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