At a certain rate per annum, the simple interest on a sum of money for one year

Question

At a certain rate per annum, the simple interest on a sum of money for one year is Rs. 260 and the compound interest on the same sum for two years is Rs. 540.80. The rate of interest per annum is = ?

Options:

A . 4%

B . 6%

C . 8%

D . 10%

Answer: Option C

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