If on a certain sum, the simple interest for 4 years is ₹2,000, then what is the simple interest for 6 years on the same sum?
Answer & explanation
Correct answer: option 2
Simple interest of 4 years = Rs. 2000
Simple interest of 1 year = \(\frac{2000 }{4 }\) = 500
Simple interest of 6 years = 6 × 500 = Rs. 3000