The compound interest earned on a sum for the second and the third years are $1400 and $1498 respectively. What is the rate of interest? Choose the correct choice from the following choices
A) 3%	B) 5%	C) 7%	D) 9%	E) 11%
1498 - 1400= 
<gadget id="calculator">1498 - 1400</gadget>
<output>98</output>
98 is the rate of interest on $1400 for one year.   The rate of interest= (100 * 98) / (1400)= 
<gadget id="calculator">(100 * 98) / (1400)</gadget>
<output>7</output>
7%   The answer is 7%.
<result>C</result>
The compound interest earned on a sum for the second and the third years are $1400 and $1498 respectively. What is the rate of interest?