Question

what rate gives rupees 280 as intrest on sum of 56000 in 2 years (ans .in decimal form)​

Answer 1

➤ Given :-

Simple Interest :- ₹ 280

Principle :- ₹ 56000

Time :- 2 years

➤ To Find :-

Rate of interest of the given sum

➤ Formula required :-

${\large \tt \dashrightarrow \orange{\boxed{\tt \gray{\dfrac{SI \times 100}{P \times T}}}}}$

➤ Solution :-

Rate of interest :-

${\tt \longrightarrow \dfrac{280 \times 100}{56000 \times 2}}$

${\tt \longrightarrow \dfrac{280 \times \cancel{100}}{\cancel{56000} \times 2} = \dfrac{280 \times 1}{560 \times 2}}$

${\tt \longrightarrow \cancel \dfrac{280 \times 1}{560 \times 2} = \dfrac{280}{1120}}$

${\tt \longrightarrow \cancel \dfrac{280}{1120} = \boxed{\tt 0.25 \bf\%}}$

$\Huge\therefore$ The rate of interest of the given sum is 0.25%.

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$\dashrightarrow$ Some related formulas :-

Simple Interest :- ${\boxed{\tt\dfrac{P \times R \times T}{100}}}$

Principle :- ${\boxed{\tt\dfrac{SI \times 100}{R \times T}}}$

Time :- ${\boxed{\tt\dfrac{SI \times 100}{P \times R}}}$