What is the simple interest on Rs 2700 at 8% per year for 3 years?

Question: What is the simple interest on Rs 2700 at 8% per year for 3 years?

1. Rs 649
2. Rs 648
3. Rs 647
4. Rs 650

Correct Answer: B — Rs 648

Explanation: Simple interest = principal × annual rate × years ÷ 100; add principal for total amount.
Using the values in this question gives Rs 648 as the correct answer.