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A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is
4%
6%
7%
5%
S.I. on Rs.800 for 1 year
=Rs[840 - 800] = Rs.40
Rate
=(100x40/800x1)% = 5%
Hence, opiton 4 is the correct answer.
By: Amit Kumar ProfileResourcesReport error
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