Question

what rate gives Rs.280 as interest on the sum of Rs.56000 in 2 years?

Answer 1

$\huge \: \: \: answer$

Principal ( p ) = Rs 56000

Time = t = 2 years

Let the rate of interest = r%

Simple interest = I = Rs280

We know that ,

ptr / 100 = I

r = ( 100 × I )/ problem

r = ( 100 × 280 ) / 56000

= 28/58

= 1/2

= 0.5 %

Therefore ,

r = 0.5 %

I hope this helps you.

$\huge \: \: \: thankyou$