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Ex 7.2, 10 What rate gives Rs 280 as interest on a sum of Rs 56,000 in 2 years? I = Rs 280 P = Rs 56,000 T = 2 years R = ? Now, I = 𝑃𝑅𝑇/100 280 = (𝟓𝟔𝟎𝟎𝟎 × 𝑹 × 𝟐)/𝟏𝟎𝟎 280 = 560 × 2R 560 × 2R = 280 R = 𝟐𝟖𝟎/(𝟓𝟔𝟎 × 𝟐) R = 140/560 R = 14/56 R = 14/56 R = 7/28 R = 1/4 R = 0.25 ∴ Rate of interest = 0.25% p.a

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.