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What rate gives Rs. 280 as interest on a sum of Rs. 56,000 in 2 years ?
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Rate = 0.25 % p.a. (per annum)
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• Principal (P) = Rs 56000
• Interest (I) = Rs 280
• Time (T) = 2 years
• Rate (R) = ?
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• Rate (R) = ?
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Answered by
9
Answer:
Step-by-step explanation:
SI=P×R×T100⇒280=56000×R×2100⇒R=280×10056000×2=0.25 percent.
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