What rate gives Rs. 560 as interest on a sum of Rs 112000 in 2 years?
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Answer:
Given: - P = ₹ 56000, SI = ₹ 280, t = 2 years.
We know that,
R = (100 × SI) / (P × T)
= (100 × 280)/ (56000 × 2)
= (1 × 28) / (56 × 2)
= (1 × 14) / (56 × 1)
= (1 × 1) / (4 × 1)
= (1/ 4)
= 0.25%
Answer:
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Step-by-step explanation:
Given: - P = ₹ 56000, SI = ₹ 280, t = 2 years.
We know that,
R = (100 × SI) / (P × T)
= (100 × 280)/ (56000 × 2)
= (1 × 28) / (56 × 2)
= (1 × 14) / (56 × 1)
= (1 × 1) / (4 × 1)
= (1/ 4)
= 0.25%