Question

what is rate of interest which yields an interest of ₹280 on a sum of ₹5600 for 2years​

Answer 1

SI = P×R×T/100

Rs280 = 56000×x×2/100

Rs280 = 560×2x

280/ 560 = 2x

1/2 = 2x

1/2×2=x

1/4 = x

0.25 = x

 

Answer 2

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

$Simple \: Interest \\ \frac{P\times R\times T}{100} </p><p>100</p><p>P×R×T</p><p> </p><p> </p><p></p><p>\Rightarrow\ 280=\frac{56000\times R\times2}{100}\Rightarrow R=\frac{280\times100}{56000\times2}$

⇒ R = 0.25%

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