If, on a certain sum, the simple interest for 2 years is ₹1,200, then what is the simple interest on the same sum for 5 years, if the rate of interest remains unchanged?
Answer & explanation
Correct answer: option 3
Sum for 2 years = Rs. 1200
Sum for 1 year = Rs. 600
Now, Sum for 5 years = 5 × 600 = Rs. 3000