Question:A sum of money at compound amount which earns Rs. `578.40` in `2` years and to Rs.`614.55` in `3` years.The rate of interest per annum is : 

A `4%` 
B `5%` 
C `6 1/4%` 
D `8 1/3%` 

+ Answer
C 

+ Explanation
Interest on Rs.`578.40` for `1` year` = Rs.(614 - 578.40)`

`=Rs. 36.15`

:. Rate` = ((100 xx 36.15)/578.40)%`

`= 6 1/4%`.

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Irin Moni

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