Question

What is the rate of interest which yields an interest of ₹560 on a sum of 28000 after 2 years?

Answer 1

Answer: 1%

Step-by-step explanation:

Int = (P *R * T)/100

560=(28000*R*2)/100

R= (560*100)/(280*100)

R=(56000/56000)

R=1%

Answer 2

Answer: 1 is the rate of interest

Step-by-step explanation:

$\frac{p*r*t}{100}$ = interest

$\frac{28000*2*r}{100} = 560$

28000*2*r= 560*100

28000*r=$\frac{56000}{2}$

r= 2800/2800

r=1