At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years  Choose the correct option:
A) 3%
B) 4%
C) 5%
D) 6%
E) None of these
Explanation:   Let Rate will be R%   1200(1+R100)2=134832100(1+R100)2=134832120000(1+R100)2=1123610000(1+R100)=106100=&gt;R=6%   Answer: 6%
<result>D</result>
At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years