Question

What rates gives rs1120 as interest on a sum of RS 56,000 in 2 years

Answer 1

Answer: 0.25

step by step explanation:

simple interest = 56000×x×2/100

Rs 280 =56000×x× 2 / 100

Rs 280 = 560 × 2x

280/50 = 2 x

1/2×2 =2 x

1/2×2 = x

1/4 = x

0.25 = X

hence the rate of interest on sum is 0.25