Correct Answer: 5%
Explanation:
Let 'R%' be the rate of interest
From the given data,
2520 2400 = 1 + R 100 4 1 + R 100 3 ⇒ 1 + R 100 = 63 60 ⇒ R = 5
Hence, the rate of interest R = 5% per annum.