A sum of ₹10,000 is borrowed at a rate of simple interest 15% per annum. Find the interest to be paid at the end of two years.

Correct option is C

Given:

Principal (P) = ₹10,000

Rate (R) = 15% per annum

Time (T) = 2 years

Formula Used:

SI = $$\frac{P \times R \times T}{100}$$​​

Solution:

SI = $$\frac{10000 \times 15 \times 2}{100}$$​​

​$$= \frac{300000}{100}$$​​

= ₹3,000