Question

What rate given Rs 250 as interest on a sum of 55000 in 2 years

Answer 1

Answer:

We are given,

• Interest (I) = 250 Rs

• Principal (P) = 55000 Rs

• Time (n) = 2 years

• Rate of Interest (r) = ?

$As \: we \: know, \\ </p><p> \: \: \: \: \: \: I = prn \\ </p><p>or, r = \frac{i}{pn} \\ or \: r = \frac{250}{55000 \times 2} \times \frac{1}{100} \\ or \: r= \frac{125}{5500000} \\ or \: r = \frac{25}{1100000} \\ or \: r = \frac{1}{44000} \\ or \: r = 2.27$

answer: 2.27 %.