Question

You deposit ₹400 in a bank account at $5\%$ simple interest per year. How much interest would you have earned after 3 years?

• A. ₹60
• B. ₹65
• C. ₹70
• D. ₹80

Answer 1

The correct option is A

₹60

$S.I=\frac{P\times T\times R}{100}$

$S.I=\frac{400\times 3\times 5}{100}$

$S.I=₹60.$