Question

What rate gives 560 as interest on a sum of 5600 in 2 years?​

Answer 1

Step-by-step explanation:

Simple interest =

$\frac{p \times r \times t}{100}$

$p = 5600 \: rs. \\ r = r \\ simple \: interest = 560 \: rs. \\ time = 2 \: years \\ \frac{5600 \times 2 \times r}{100} = 560rs. \\ \frac{10 \times 2 \times r}{100} \\ \frac{r}{5 } = 1rs. \\ r = 5\%$