What is the simple interest on a principal of ₹16,000 for 3 years at the rate of 10% per annum?

₹6,400 ₹4,800 ₹5,600 ₹5,200

₹4,800

Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) Simple Interest = \(\frac{16000 × 10 × 3 }{100}\) = Rs. 4800