At what rate p.a a sum of Rs. 2400 will become Rs. 3600/- in 5 years.  Choose one:
A) 10%
B) 15%
C) 20%
D) 12%
E) 23%
Explanation:   principal P = 2400/-   Rate of interest R = ?   Time T = 5 years   10%ccumulated 10%mount 10% = Rs.10400/-   10% = P + I   10% = P + PTR/100   10% = P(1+ TR/100)   2400[ 1 + (5 x R)/100] = 3600   2[(20 + R)/20] = 3   20 + R = 30   R = 10%   10%nswer: Option 10%
<result>A</result>
At what rate p.a a sum of Rs. 2400 will become Rs. 3600/- in 5 years.