what rate gives rupees 280 as interest on a sum of rupees 28000 in 2 year
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what rate gives rupees 280 as interest on a sum of rupees 28000 in 2 year
solve this question with full solution
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Answer:
We have,
P=Rs.56000,
T=2years,
SI=Rs.280
We know that,
SI=
100
P×R×T
280=
100
56000×R×2
R=
2×560
280
R=0.25%
Hence, the value of the rate is 0.25%.