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A borrowed Rs. 3500 for 3 years at the rate of $$4\%$$ p.a., B borrowed Rs. 4200 for 2 years at the rate of $$5\%$$ p.a. and C borrowed Rs. 2800 for 3 years at the rate of $$5\%$$ p.a. on simple interest. Which of the following statements is true?
Using $$SI = \frac{P \times R \times T}{100}$$, A pays $$\frac{3500 \times 4 \times 3}{100} = 420$$ and B pays $$\frac{4200 \times 5 \times 2}{100} = 420$$ rupees. C pays $$\frac{2800 \times 5 \times 3}{100} = 420$$ rupees. So all three pay Rs. 420 each.
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