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Question

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


A
3%
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B
4%
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C
5%
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D
6%
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Solution

The correct option is C $$5\%$$
Given, principal $$=$$ Rs. $$800$$
S.I on Rs. $$800$$ for $$1$$ year $$=40$$
$$\therefore$$ rate $$=\dfrac{100 \times 40}{80}=5\%$$
Therefore, the rate of interest per annum is $$5\%$$.

Mathematics

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