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. Rs. 50
• B. Rs. 90
• C. Rs. 60
• D. Rs. 67

Answer 1

The correct option is C Rs. 60

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

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

$S.I=Rs.60$