Question

what is the rate of interest wch yields an interest of rupees 280 on a sum of rupees 56000 after 2 year

Answer 1

_________________________________
P = Principle = ₹56000
T = Time = 2 years
SI = Simple Interest = ₹280
R% = Rate of Interest = ?_________________________________
Formula to calculate rate%.

$r = \frac{si \times 100}{p \times t}$
_________________________________
Steps-

$r = \frac{280 \times 100}{56000 \times 2}$

$r = \frac{28000}{112000}$

$r = \frac{28}{112}$

$r = 0.25$
_________________________________
So, the rate of interest per annum is 0.25%.
_________________________________