Question

What rate gives ₹280 as interest on a sum of ₹56,000 in 2 years? ​

Answer 1

Answer:

R= 0.25%

Step-by-step explanation:

Since the type of interest is not mentioned in question, let me take it as Simple Interest.

Given:

Simple Interest, S.I= ₹280

Principal Amount, P= ₹56,000

No.of.years, N= 2

Rate of Interest, R= ?

Formulae:

S.I= PNR/100

Solution:

S.I= PNR/100

280= (56000x2xR)/100

R= 1/4 %

R= 0.25%

Answer 2

$\large\mathbb{\underline\purple{ANSWER}}$

$\rm\pink{We ~have,}$

 $\rm\red{P~=~₹ ~56000,}$

 $\rm\purple{T~=~2~years~}$

 $\rm\green{SI~=~Rs.280}$

 

$\rm\orange{We~ know~ that,}$

SI = $\sf\dfrac{P×R×T}{100}$

⇒280 = $\sf\dfrac{56000×R×2}{100}$

⇒ R = $\sf\dfrac{280×100}{56000×2}$

⇒ $\sf\blue{R~=~0.25}$%