Answer: Option B. -> 10%
Answer: (b)Let the rate of interest be r% per annum,According to the question,4840 = P$(1 + r/100)^2$ ..... (i)and 5324 = P$(1 + r/100)^3$....(ii)On dividing equation (ii) by equation (i), we have,$1 + r/100 = 5324/4840 = 1 + 484/4840$$r/100 = 484/4840$ ⇒ r = 10%Using Rule 7,If on compound interest, a sum becomes Rs.A in 'a' years and Rs.B in 'b' years then,(i) If b - a = 1, then, R% = $(B/A - 1)$ × 100%(ii) If b - a = 2, then, R% = $(√{B/A} - 1)$ × 100%(iii) If b - a = n then, R% = $[(B/A)^{1/n} - 1]$ × 100%where n is a whole number.