At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 13

Question

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

Options:

A . 6%

B . 6.5%

C . 7%

D . 7.5%

Answer: Option A

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