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Ex 8.3, 10 - Chapter 8 Class 7 Comparing Quantities

Last updated at Nov. 6, 2018 by

Ex 8.3, 10 - What rate gives Rs 280 as interest on a sum of Rs 56,000

Ex 8.3, 10 - Chapter 8 Class 7 Comparing Quantities - Part 2

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Ex 8.3, 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 Γ— 𝑅 Γ— 2)/100 280 = 560 Γ— 2R 560 Γ— 2R = 280 R = 280/(560 Γ— 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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