Question

What rate gives rupees 280 as INTREST on sum of rupees 56000 in 2years

Answer 1

let rate =r%

S.I=280

P=56000

T=2 years

FORMULA, S.I= P.R.T÷100

280=56000×r×2÷100

280=1120r

r=1120÷280

r=4%