Question

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

Answer 1

Given :

• Principal = ₹56000
• Time = 2 years
• Interest = ₹280

To find : Rate

Formula used :

I = Prt

Solution :

Putting respective values in , I = Prt

we get,

$\sf \implies \: 280 = \dfrac{(56000 \times r \times 2)}{100} \\ \\ \sf \implies \: 280 \times 100 \: = \: (112000\times r ) \\ \\ \sf \implies \:28000 \: = \: 120000r \\ \\ \sf \implies \:r \: = \dfrac{28000}{120000} \\ \\ \: \sf \implies \:r \: = \dfrac{1}{4} \\ \\ \sf \implies \:r \: = \bold{0.25\%}$

ANSWER :

Rate = 0.25 %

Answer 2

$\large\underline{\underline{\sf{\maltese\:\: \red{Question \: : }}}}$

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

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$\large\underline{\underline{\sf{\maltese\:\: \red{Answer \: : }}}}$

Rate = 0.25 % p.a. (per annum)

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$\large\underline{\underline{\sf{\maltese\:\: \red{Given \: : }}}}$

• Principal (P) = Rs 56000

• Interest (I) = Rs 280

• Time (T) = 2 years

• Rate (R) = ?

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$\large\underline{\underline{\sf{\maltese\:\: \red{To \: Find \: : }}}}$

• Rate (R) = ?

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$\large\underline{\underline{\sf{\maltese\:\: \red{Concept \: Used \: : }}}}$

$\bold{R = \dfrac {SI \: \times \: 100}{P \:\times\: T}}$

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$\large\underline{\underline{\sf{\maltese\:\: \red{Solution \: :}}}}$

$\sf R = \dfrac {SI \: \times \: 100}{P \:\times\: T}$

$\sf R = \dfrac {Rs \: 280 \: \times \: 100 }{Rs \: 56000 \: \times \: 2}$

$\sf R = \dfrac {1}{4}$

$\sf R = 0.25\%$

$\sf Rate = 0.25 \: \%\: p.a. \:(per \: annum)$

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