Question

At what rate ₹56,000 will give ₹2800 as interest in 2 years?​

Answer 1

Answer:

hey

Step-by-step explanation:

Solution:

Here, Principal (P) = Rs. 56,000, Simple Interest (S.I.) = Rs. 280, Time (T) = 2 years

Simple Interest = \frac{P\times R\times T}{100}  

100

P×R×T

​  

 

\Rightarrow\ 280=\frac{56000\times R\times2}{100}\Rightarrow R=\frac{280\times100}{56000\times2}⇒ 280=  

100

56000×R×2

​  

⇒R=  

56000×2

280×100

​  

 

\Rightarrow\ R\ =\ 0.25\%⇒ R = 0.25%

Hence, the rate of interest on sum is 0.25%.