Multiple choice

What will be the interest on Rs. 6,250 for 3 years if interest accrues at 12% simple interest per annum?

  1. Rs. 2,450

  2. Rs. 2,250

  3. Rs. 2,150

  4. Rs. 2,050
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple interest = P * R * T / 100 = 6250 * 12 * 3 / 100 = 62.5 * 36 = 2250.

AI explanation

Using the formula for simple interest, which is Principal multiplied by Rate multiplied by Time divided by 100, we substitute the given values. The interest equals 6250 multiplied by 12 multiplied by 3, all divided by 100. This calculation results in an interest of Rs. 2,250.

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