Question

What rate gives ₹450 as a interest on a sum of ₹72,000 in 2 years

option 1) 3%
option 2) 3.2%
option 3) 3.6%
option 4) 4%​

Answer 1

Answer:

Step-by-step explanation:

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%