Solve the question of and select the option from the choices A through D/E. Check your Answer and view the explanation.
Simple interest on Rs. 400 in 3 years at a rate of 5% per annum is
P = 400, t = 3, r = 5%, I = ?
Using Simple Interest formula: I = Prt
I = 400 × 3 × 5 100
= 60