Question

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

Answer 1

r= (S.I ×100) /sum ×time
r= (280×100)/ 56000×2=0.25%

Answer 2

Answer:

Step-by-step explanation:

Principle=₹56,000

Rate of interest= R

Time=2 years

Simple Interest=₹280

R=S.I×100÷Principle×Time

It means S.I×100 upon Principle×Time

R=280×100÷56,000×2

It means 280×100 upon 56,000×2

R=1 upon 4

R=0.25%

Hence, Rate of interest is 0.25%

It's the correct answer..