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Formula for CI

A sum of mone...

Question

A sum of money invested at C.I. amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is

A

2 \frac{1}{2}

%

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B

4

%

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C

5

%

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D

6 \frac{2}{3}

%

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Solution

The correct option is C $5$ %
Simple interest for one year $= 840 - 800 = 40 R s .$

Rate of interest= $\frac{40 \times 100}{800 \times 1} = 5$ %

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