Question

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

Answer 1

Answer:

0.25%

Explanation:

$r \: = \frac{si \times 100}{p \times t}$

=

$\frac{280 \times 100}{56000 \times 2}$

=

$\frac{1}{4} \% = 0.25\%$

So Rate is 0.25 per annum.

Hope it helps ☺️

Answer 2

Answer:

${\large{\underline{\underline{\maltese\textbf{\textsf{Given}}}}}}$

• ➤ Principle = Ra.56000
• ➤ Simple Interest = Rs.280
• ➤ Time = 2 years

$\begin{gathered}\end{gathered}$

${\large{\underline{\underline{\maltese\textbf{\textsf{To Find}}}}}}$

• ➤ Rate of Interest

$\begin{gathered}\end{gathered}$

${\large{\underline{\underline{\maltese\textbf{\textsf{Using Formula}}}}}}$

${\dag{\underline{ \boxed{\sf{S.I=\dfrac{P\times R\times T}{100}}}}}}$

Where

• ๛ S.I = Simple Interest
• ๛ P = Principle
• ๛ R = Rate
• ๛ T = Time

$\begin{gathered}\end{gathered}$

${\large{\underline{\underline{\maltese\textbf{\textsf{Basic Terms}}}}}}$

• ➨ Simple Interest = Simple interest is the method of calculating interest charged on the amount invested in a fixed deposit.
• ➨ Principle = The principal is the amount due on any debt before interest, or the amount invested before returns
• ➨ Rate = An interest rate is the percentage of principal charged by the lender for the use of its money
• ➨ Time = Time is duration (in months or years) in Simple Interest

$\begin{gathered}\end{gathered}$

${\large{\underline{\underline{\maltese\textbf{\textsf{Solution}}}}}}$

$\quad{: \implies{\tt{S.I = \bf\dfrac{P\times R\times T}{100}}}}$

• Substituting the all values

$\quad{: \implies{\tt{280= \bf\dfrac{56000\times R\times 2}{100}}}}$

$\quad{: \implies{\tt{280= \bf\dfrac{112000\times R}{100}}}}$

$\quad{: \implies{\tt{280 \times 100= \bf{112000\times R}}}}$

$\quad{: \implies{\tt{28000= \bf{112000\times R}}}}$

$\quad{: \implies{\tt{ \dfrac{28000}{112000} = \bf{R}}}}$

$\quad{: \implies{\tt{\cancel{\dfrac{28000}{112000}} = \bf{R}}}}$

$\quad{: \implies{\tt{{0.25}= \bf{R}}}}$

${\dag{\underline{\boxed{\sf{R = 0.25 \: \%}}}}}$

• ➤ Hence,The Rate of Interest is 0.25%.

$\begin{gathered}\end{gathered}$

${\large{\underline{\underline{\maltese\textbf{\textsf{Learn More }}}}}}$

$\begin{gathered}\begin{gathered}\begin{gathered}\begin{gathered}\begin{gathered}\begin{gathered} \dag \: \underline{\bf{More \: Useful \: Formula}}\\ {\boxed{\begin{array}{cc}\dashrightarrow {\sf{Amount = Principle + Interest}} \\ \\ \dashrightarrow \sf{ P=Amount - Interest }\\ \\ \dashrightarrow \sf{ S.I = \dfrac{P \times R \times T}{100}} \\ \\ \dashrightarrow \sf{P = \dfrac{Interest \times 100 }{Time \times Rate}} \\ \\ \dashrightarrow \sf{P = \dfrac{Amount\times 100 }{100 + (Time \times Rate)}} \\ \end{array}}}\end{gathered}\end{gathered}\end{gathered}\end{gathered}\end{gathered}\end{gathered}$