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What Rate Gives Rs 280 as Interest on a Sum of Rs 56,000 in 2 Years? - Mathematics

What rate gives Rs 280 as interest on a sum of Rs 56,000 in 2 years?

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Solution

S.I. = `"PXRXT"/100`

`280 = (56000xxRxx2)/100`

`R = 280/(560xx2) = 1/4 = 0.25`

Therefore, 0.25% gives Rs 280 as interest on the given sum.

Concept: Concept of Principal, Interest, Amount, and Simple Interest
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Chapter 8: Comparing Quantities - Exercise 8.3 [Page 172]
Q 10
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NCERT Class 7 Maths
Chapter 8 Comparing Quantities
Exercise 8.3 | Q 10 | Page 172
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