Multiple choice

What is the simple interest on Rs. 2000 for 3 years at 5% per annum?

  1. 300

  2. 150

  3. 200

  4. 270

  5. 340
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A Correct answer
Explanation

SI = (P * R * T) / 100 = (2000 * 5 * 3) / 100 = 300.

AI explanation

Using the simple interest formula of principal multiplied by rate multiplied by time divided by 100, the calculation is 2000 multiplied by 5 multiplied by 3, which equals 30000, and dividing by 100 gives 300. The simple interest accrued is Rs. 300.

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