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Answer :
To find the rate of interest per annum for the compound interest problem, we start by understanding the information given.
A sum of money invested at compound interest increases from Rs. 800 to Rs. 840 over a period from 3 years to 4 years. Our objective is to find the yearly rate of interest.
Let's break it down step-by-step:
Identify the Amounts and Time:
- After 3 years, the amount is Rs. 800.
- After 4 years, the amount is Rs. 840.
Calculate the Interest for the 4th Year:
- Interest earned in the 4th year = Amount after 4 years - Amount after 3 years = Rs. 840 - Rs. 800 = Rs. 40
Find the Interest Rate:
- This Rs. 40 is 1 year's interest on Rs. 800.
- Therefore, the rate of interest per annum is calculated as follows:
[tex]\text{Interest Rate} = \left( \frac{40}{800} \right) \times 100 = 5\%[/tex]
Therefore, the rate of interest per annum is 5%.
In the given options, the correct choice is (c) 5%.
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