Mathematics · Simple Interest
An Agri-startup seeks a loan of Rs. 50 lakh for setting up a solar-powered cold storage unit under the Agriculture Infrastructure Fund, which offers a 3% interest subvention per annum for a maximum period of 7 years. Calculate the total interest saved by the startup over this 7-year subvention period using simple interest.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 13.5 lakh
- 215 lakh
- 37.5 lakh
- 410.5 lakh✓
Correct answer
10.5 lakh
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