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?	Choose the correct choice from the following:
A) 10%
B) 16%
C) 70%
D) 80%
E) 20%
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?