Simple interest of ₹375 is obtained on a sum of money for a period of 3 years at a rate of 2% per annum. Find the sum (in ₹).

Correct option is B

Given:
Simple Interest (SI) = ₹375
Time (T) = 3 years
Rate (R) = 2% per annum
Formula Used:
​$$P = \frac{SI \times 100}{R \times T}$$​​
Solution:
Substitute the values into the formula:
​$$P = \frac{375 \times 100}{2 \times 3} \\ \ \\P = \frac{37500}{6} \\P = 6250$$​​
So the correct answer is (b)