alleryAt what rate per annum will Rs 1200 amount to Rs 1452 in 2 years at compound interest (compounded annually)?
A10%
B12%
C15%
D8%
Answer & Solution
Correct answer: A. 10%
Amount/P = 1452/1200 = 1.21 = (1 + R/100)^2. So 1 + R/100 = 1.10, R = 10%.
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