What is the simple interest on ₹7,000 at 8% per annum for 3 years?

Simple Interest · Quantitative Aptitude · Easy · Practice for SSC CGL Tier 1

What is the simple interest on ₹7,000 at 8% per annum for 3 years?

  1. ₹2,016
  2. ₹1,680
  3. ₹1,344
  4. ₹1,848
Answer and solution

Correct answer: B) ₹1,680

SI = P × R × T / 100 = 7,000 × 8 × 3 / 100 = ₹1,680.

Learn the method: Simple Interest rules and worked examples · SSC CGL Tier 1 Quantitative Aptitude

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