Question

what rate gives rs280 as interest on a sum of rs56000 in 2years

Answer 1

Heya!!
___________________________________________________________________________________

>Simple interest = si = Rs.280 
>Principal = P = Rs.56000
>Time = T =  2 years 
>Rate = R = ?

As we know, Simple interest = PTR/100 
So, 

280 = 56000 × 2 × R/ 100 
 R = 280/560 × 2 

> ∴ R = 1/4%

Ans: The rate which gives Rs.280 as interest on a sum of Rs.56000 in 2 years is 1/4% p.a. 

___________________________________________________________________________________________

Hope helped!!