Question

What rates gives Rs 280 /- as interest on a sum of Rs 56,000 /- in 2 years ?​

Answer 1

Answer: 0.25%.

Step-by-step explanation:

Simple Interest = (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

Hence, the rate of interest on sum is 0.25%.

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Answer 2

Answer:

0.25%

Step-by-step explanation:

Simple Interest=P×R×T/100

              ⇒280=56,000×R×2/100

              ⇒280=560×R×2

  ⇒280/560×4=R

                ⇒1/4=R

                  ⇒R=0.25