Q147
The compound interest (compounded annually) on a sum of money invested for three years yields Rs. 800 and Rs. 840 in four years. The annual percentage rate of interest is:
A.
4.5%
B.
5.5%
C.
5%
AnswerD.
6%
Answer: Option C
Solution
Answer: Option C
Solution:
Interest of 1 year = 840 - 800 = 40Rate = × 100 = 5% Answer