Question

At what rate of compound interest per annum will a sum of rs. 1200

Answer 1

11Q:

At what rate of compound interest per annum will a sum of rs.1200 becomes rs.1348.32 in 2 years

A) 66%%

B) 6.5%

C) 7%

D) 7.5%

Answer: A) 66%%

Explanation:

rate=r%

1200 (1+r/100)^2=1348.32

r=6%