Question

What is the rate of interest which yields an interest of Rs.1120 on a sum of Rs.56000 for 2 years??
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Answer 1

Answer:

the formula useing SI = R×P×T/100

Answer 2

Answer:

We have,

P=Rs.56000,

T=2years,

SI=Rs.280

We know that,

SI=

100

P×R×T

280=

100

56000×R×2

R=

2×560

280

R=0.25%

Hence, the value of the rate is 0.25%

Step-by-step explanation:

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