A) \[2\frac{1}{2}%\]
B) \[4\,%\]
C) \[5\,%\]
D) \[6\frac{2}{3}\,%\]
Correct Answer: C
Solution :
\[A=P{{\left( 1+\frac{R}{100} \right)}^{T}}\] \[\Rightarrow \] \[800=P{{\left( 1+\frac{R}{100} \right)}^{3}}\] ?...(i) and, \[840=P{{\left( 1+\frac{R}{100} \right)}^{4}}\] ??.(ii) On dividing equation (ii) by (i), \[\frac{840}{800}=1+\frac{R}{100}\] \[\Rightarrow \] \[\frac{21}{20}=1+\frac{R}{100}\] \[\Rightarrow \] \[\frac{R}{100}=\frac{21}{20}-1=\frac{1}{20}\] \[\Rightarrow \] \[R=\frac{1}{20}\times 100\] = 5% per annum
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