Question

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

Answer 1

Sum =56000
Intrest =280
Time=2 yr

Si=prt/100

280=56000x2xR/100

280x100/56000x2=R

R=28000/56000x2 =1/4

R=. 25%

Answer 2

Hey dear!!
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Simple interest = RS.280
Principal = P = RS. 56000
Time = T = 2 years
Rate of interest = R = ?

Simple interest = PTR/100

> 280 = 56000 × 2 × R/100
> R = 280/560 × 2 = 1/4

Ans: The rate of interest is 1/4%.

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Hope helped!!