A certain principal invested at compound interest payable yearly amounts to Rs. 10816.00 in 3 years and Rs. 11248.64 in 4 years. What is the rate of interest?

A certain principal invested at compound interest payable yearly amoun

1.	A certain principal invested at compound interest payable yearly amounts to Rs. 10816.00 in 3 years and Rs. 11248.64 in 4 years. What is the rate of interest?
A.	3%
B.	4%
C.	4.5%
D.	5.5%
Answer» C. 4.5%

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A certain principal invested at compound interest payable yearly amounts to Rs. 10816.00 in 3 years and Rs. 11248.64 in 4 years. What is the rate of interest?

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