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The compound interest (compounded annually) on a sum of money invested...

This question belongs to Arithmetic Ability Compound Interest
Compound Interest
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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:

Answer & Solution
Correct Answer: Option C
Interest of 1 year = 840 - 800 = 40
Rate = $$\frac{{40}}{{50}}$$ × 100 = 5% Answer
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