A loan of ₹2,00,000 bears simple interest at 7% per annum The interest for 3 months is:

Type: MCQ • Marks: 1

A. 2500

B. 3000

C. 3500

D. 14000

Explanation

2,00,000 × 7 × 3/12 /100 = ₹3,500.

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UPSC Principal & Vice Principal Management Finance Administration

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