The compound interest earned on a sum for the second and the third years are $1400 and $1512 respectively. What is the rate of interest?  Choose the correct choice:  A) 5%  B) 6%  C) 7%  D) 8%  E) 9%
1512 - 1400= 
<gadget id="calculator">1512 - 1400</gadget>
<output>112</output>
112 is the rate of interest on $1400 for one year.   The rate of interest= (100 * 112) / (1400)= 
<gadget id="calculator">(100 * 112) / (1400)</gadget>
<output>8</output>
8%   The answer is 8%.
<result>D</result>
The compound interest earned on a sum for the second and the third years are $1400 and $1512 respectively. What is the rate of interest?