A sum of money invested at compound interest amounts to Rs. 960 in 4 years and Rs. 1,080 in 5 years. What is the rate of interest per annum?

A sum of money invested at compound interest amounts to Rs. 960 in 4 y

1.	A sum of money invested at compound interest amounts to Rs. 960 in 4 years and Rs. 1,080 in 5 years. What is the rate of interest per annum?
A.	12.5%
B.	12%
C.	11.5%
D.	11%
Answer» B. 12%

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A sum of money invested at compound interest amounts to Rs. 960 in 4 years and Rs. 1,080 in 5 years. What is the rate of interest per annum?

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