If the simple interest on Rs. 400 for 10 years is Rs. 280,

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If the simple interest on Rs. 400 for 10 years is Rs. 280, the rate of interest per annum is

Here , Principal = ₹ 400 , SI = ₹ 280 , Time = 10 years
We can find the required answer with the help of given formula ,

Rate =	SI × 100
	Principal × Time

Rate =	280 × 100
	400 × 10

Rate = 7% per annum