Calculate the simple interest on ₹37,500 at the rate of $2\%$ per annum for 4 years.

The formula for Simple Interest ($\text{SI}$) is given by:
$$\text{SI}=\frac{P\times R\times T}{100}$$

Given:

* Principal ($P$) = ₹$37,500$
* Rate ($R$) = $2\%$ per annum
* Time ($T$) = $4$ years

Substituting the values into the formula:

$$\text{SI}=\frac{37500\times 2\times 4}{100}$$

$$\text{SI}=375\times 8$$

$$\text{SI}=3000$$

The simple interest is ₹3,000.