What will be the simple interest on ₹10,000 at 12% per annum for 5 years?

Correct option is B

Given:

Principal (P) = ₹10,000

Rate of Interest (R) = 12% per annum

Time (T) = 5 years

Formula Used:

Simple Interest (SI) = $$\frac{(P \times R \times T) }{ 100}$$​​

Solution:

SI =$$\frac{ (10000 \times 12 \times 5) }{100}$$​​

SI = ₹6,000

Therefore, the simple interest on ₹10,000 at 12% per annum for 5 years is ₹6,000.