The compound interest on a certain sum of money at a certain rate for – McqOptions

MCQOPTIONS

1.	The compound interest on a certain sum of money at a certain rate for 2 years is Rs. 40.80 and the simple interest on the same sum is Rs. 40 at the same rate and for the same time. The rate of interest is = ?
A.	2% per annum
B.	3% per annum
C.	4% per annum
D.	5% per annum
Answer» B. 3% per annum

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