Question

What rate gives Rs 280 as interest on a sum of Rs 56000 in 2 years ?

Answer 1

SI = P×R×T/100

Rs280 = 56000×x×2/100

Rs280 = 560×2x

280/ 560 = 2x

1/2 = 2x

1/2×2=x

1/4 = x

0.25 = x

Answer 2

SI = rupees 280

Principal = rupees 56000

Time = 2 years

Rate = ?

Solution =

SI = P× R × T/ 100

Rupees 280 = 56000×R×2/100

Rupees 280 = 560× 2x

2x = 280/560

2x 1/2

X = 1/2÷2/1

= 1/2×1/2

Rate= 0.25