Question:At what rate of compound interest per annum will a sum of Rs.`1200` become Rs.`1348.32` in `2` years ? 

A `7%` 
B `6%` 
C `7.5%` 
D `6.5%` 

+ Answer
B 

+ Explanation
`1200 xx (1 + R/100)^2 + 1348.32`

`or (1 + R/100)^2`

`= 134832/120000`

`= 11236/10000`

`:. (1 + R/100)^2`

`= (106/100)^2`

`or 1 + R/100`

`= 106/100`

`or R = 6%`

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Irin Moni

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