Question

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

Answer 1

Answer:

Principal=56000, Intrest=280, Time=2 years

Rate =4% p.a.

Step-by-step explanation:

Rate = 280×100/56000×2

=4% per annum

Answer 2

Pricipal = Rs. 56,000

Time = 2 years

Interest = Rs. 280

We have to find the rate

So, we will use the formula of simple interest

Simple interest = (p × r × t)/100

                  280 = (56,000 × r × 2)/100

                    280 = 1120r

                         r = 280/1120

                         r = 0.25%

Hence, the rate will be 0.25%