Find the value of the interest earned on a sum of ₹6,000 for 5 years at 8.4% simple interest rate per annum.
Answer & explanation
Correct answer: option 1
Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)
= \(\frac{6000 × 8.4 × 5 }{100}\)
= Rs.2520