alleryStart learning →₹1,000 grows to ₹1,210 in 2 years, compounded annually with no transactions. Constant positive annual rate?
A10%
B21%
C20%
D10.5%
Answer & Solution
Correct answer: A. 10%
The two-year growth factor is 1.21 = 1.1², so each year's positive growth rate is 10%.
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