Find the simple interest (in ₹) on ₹3,500 borrowed at 8% per year for 3 years.
2026
Find the simple interest (in ₹) on ₹3,500 borrowed at 8% per year for 3 years.
Answer: C. 840 — ConceptSimple interest is calculated only on the original principal for the entire time period. If principal is P, annual rate is R%, and time is T years,…
- A.
780
- B.
800
- C.
840
- D.
880
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Show answer & explanation
Correct answer: C
Concept
Simple interest is calculated only on the original principal for the entire time period.
If principal is P, annual rate is R%, and time is T years, then simple interest is SI = (P × R × T) / 100.
Application
Here P = ₹3,500, R = 8, and T = 3 years.
Substitute these values: SI = (3,500 × 8 × 3) / 100.
Compute in order: 3,500 × 8 × 3 = 84,000, and 84,000 / 100 = ₹840.
Cross-check
Interest for one year is 8% of ₹3,500 = ₹280; for 3 years, ₹280 × 3 = ₹840.
Result
The simple interest is ₹840.