A certain amount of money grows to Rs. 67600 in two years and to Rs. 87880 in three years on interest compounded annually. What is the rate of interest ?

A certain amount of money grows to Rs. 67600 in two years and to Rs

1.	A certain amount of money grows to Rs. 67600 in two years and to Rs. 87880 in three years on interest compounded annually. What is the rate of interest ?
A.	10 %
B.	20 %
C.	30 %
D.	40 %
Answer» D. 40 %

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A certain amount of money grows to Rs. 67600 in two years and to Rs. 87880 in three years on interest compounded annually. What is the rate of interest ?

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