Question

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

• A. $S.I=Rs.100.$
• B. $S.I=Rs.70.$
• C. $S.I=Rs.60.$
• D. $S.I=Rs.50.$

Answer 1

The correct option is C $S.I=Rs.60.$

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

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

$S.I=Rs.60.$