Dhanumjay invested an amount of Rs.17400 for two years. Find the rate of compound interest that will fetch him an amount of Rs.1783.50 at the end of two years?  Choose the correct choice from the following answers
A) 8% p.a. B) 5% p.a. C) 6% p.a. D) 4% p.a. E) 3% p.a
Explanation:   Let the rate of interest be R% p.a.   17400[1 + R/100]2 = 17400 + 1783.50   [1 + R/100]2 = (17400 + 1783.50)/17400   = 1 + 1025/10000 = 1 + 41/400   = 441/400 = [21/20]2   [1 + R/100] = 21/20   R/100 = 1/20   ∴ R = 5   Answer: Option 5% p.a.
<result>B</result>
Dhanumjay invested an amount of Rs.17400 for two years. Find the rate of compound interest that will fetch him an amount of Rs.1783.50 at the end of two years?