Question

11. What rate gives Rs.280 as interest on the sum of Rs.56000 in 2
years?​

Answer 1

Answer:

We have,

P=Rs.56000,

T=2years,

SI=Rs.280

We know that,

SI=

100

P×R×T

280=

100

56000×R×2

R=

2×560

280

R=0.25%

Hence, the value of the rate is 0.25%

Answer 2

Answer:

1/4 % or 0.25%

Step-by-step explanation:

Given, Simple Interest= Rs.280

Principal= Rs.56000

Time= 2 years

Rate= (Simple Interest×100)/(Principal×Time)

Rate= (280×100) /(56000×2)

Rate= 1/4 %