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

let rate be r%
as per si formula
si=p ×r× t ÷100
280=56000× r ×2÷100
r=100×280/56000×2
r=28000/112000
r=0.25