A sum of money is invested at compound interest, which is compounded annually. The sum grows to Rs. 1000 after three years, and Rs. 1100 after four years. What is rate of interest per annum?

A sum of money is invested at compound interest, which is compounded a

1.	A sum of money is invested at compound interest, which is compounded annually. The sum grows to Rs. 1000 after three years, and Rs. 1100 after four years. What is rate of interest per annum?
A.	10%
B.	15%
C.	12.5%
D.	20%
Answer» B. 15%

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A sum of money is invested at compound interest, which is compounded annually. The sum grows to Rs. 1000 after three years, and Rs. 1100 after four years. What is rate of interest per annum?

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