Question

What is the interest rate per annum, if a sum of money invested at compound interest amount to Rs. 2400 in 3 years and in 4 years to Rs. 2,520?

A) 3.5% B) 4% C) 5% D) 6.5%

Answer 1

Step-by-step explanation:

Given :-

• A sum of money invested at compound interest amount to Rs. 2400 in 3 years.
• 4 years to Rs. 2,520

To Find :-

• What is the interest rate per annum

Solution :-

Money distance = 2,520 - 2400 =120

Required rate % = 120/2400 ×100 =5%

Answer is 5% .

Answer 2

Answer:

ANSWER IS 5 PERCENT

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