Rs.4500 amounts to Rs.5544 in two years at compound interest, compounded annually. If the rate of the interest for the first year is 12%, find the rate of interest for the second year?	Choices:
A) 10%	B) 18%	C) 19%	D) 12%	E) 13%
Let the rate of interest during the second year be R%. Given,   4500 * {(100 + 12)/100} * {(100 + R)/100} = 5544   R = 10%   10%nswer:10%
<result>A</result>
Rs.4500 amounts to Rs.5544 in two years at compound interest, compounded annually. If the rate of the interest for the first year is 12%, find the rate of interest for the second year?