Question

3. Find the rate of interest in each of the following cases.


₹ 280 = interest
₹ 56,000 = principal
2years =time.

what will rate ?
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Answer 1

Answer:

let rate be x

intrest = prt/100

280  = 56000*x*2/100

28000 = 112000x

x = 112000/56000

x = 2

there fore rate is 2%

Step-by-step explanation:

Answer 2

Step-by-step explanation:

0.25% per annum is your answer

The formula for finding rate is

$\frac{Intrest \times 100 }{principal\times Time}$

According to Question

Rate of interest (R) = ?%

Time (T) = $2\: years$

Principal (P) = 56,000

Intrest (I)= 280

According to the formulae

$\frac{100 \times 280}{56000 \times 2} = 0.25%\: per annum$

So simple intrest = 0.25%\: per annum

Related formulas

Principal =

$\frac{intrest \times 100}{rate\% \times time \: period}$

Rate =

$\frac{intrest \times 100}{principal \times time}$

Time =

$\frac{intrest \times 100}{principal \times rate}$

Amount= Principal + Simple intrest