1)

A sum of money invested at compound interest amounts in 3 years to Rs.2400 and in 4 years to Rs.2520. The rate of interest is


A) 5%

B) 6%

C) 10%

D) 12%

E) 8%

Answer:

Option A

Explanation:

S.I. for 1 year =25202400 =120

P=2400

Rate % =120×1002400×1 = 5%