Mahesh has borrowed an amount of ₹420000 from a bank to start a business. How much simple interest (in ₹) will he pay at a rate of 6% per annum after 2 years?

The correct option is 50400.

To find the simple interest Mahesh needs to pay, we use the standard simple interest formula:

$SI=\frac{P\times R\times T}{100}$

Where:
- $P$ is the Principal amount borrowed = ₹4,20,000
- $R$ is the Rate of interest per annum = 6%
- $T$ is the Time period = 2 years

Substituting the given values into the formula:

$SI=\frac{420000\times 6\times 2}{100}$

First, simplify the expression by dividing 420,000 by 100:

$SI=4200\times 6\times 2$

Next, multiply the numbers:
- Calculate $6\times 2=12$
- Then multiply $4200\times 12$

$SI=50400$

Therefore, Mahesh will pay a simple interest of ₹50,400 after 2 years.