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Simple interest on 5,000 rupees at 6 per cent for 3 years is:
A900 rupees
B600 rupees
C300 rupees
D150 rupees
Answer & Solution
Correct answer: A. 900 rupees
1. One year of interest is 6 per cent of 5,000, that is 300.
2. Three years give three times that.
3. 300 times 3 comes to 900 rupees.
_Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_
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