At what rate of CI per year will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?	Choose the correct choice from the following choices.
A) 3%
B) 6%
C) 7%
D) 8%
E) 9%
Let the rate be R% p.a.   Then, 1200 x 1 +	R 2	= 1348.32   100   1 +	R 2	=	134832	=	11236   100	120000	10000   1 +	R 2	= 106 2   100	100   1 +	R	=	106   100	100   R = 6%   6%
<result>B</result>
At what rate of CI per year will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?