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

**Solution:**

Let us assume that rate of interest to be R.

Let us use the formula for simple interest.

So, Simple Interest = [Principal × Rate × Time] / 100

Here Simple interest , Time and Principal is given.

On substituting the above values we get,

⇒ 280 = [56000 × R × 2] / 100

⇒ R = [280 × 100] / 56000 × 2

= 0.25%

So, the rate of interest is 0.25%

**Video Solution:**

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

### Class 7 Maths NCERT Solutions - Chapter 8 Exercise 8.3 Question 10

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

The rate of interest is 0.25%