Question
A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 5 years. The rate of interest per annum is :
Answer: Option C
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S.I. on Rs. 800 for 1 year = Rs. (840 - 800) = Rs. 40
`:.` Rate = `((100 xx 40)/(800 xx 1))`% = 5%
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