If Rs. 600 amounts to Rs. 683.20 in two years compounded annually, find the
rate of interest per annum.	Choose the correct choice from the following options
A) 3% p.a  B) 4% p.a  C) 6% p.a  D) 7% p.a  E) 8% p.a
Sol. Principal = Rs. 500; Amount = Rs. 583.20; Time = 2 years.   Let the rate be R% per annum.. 'Then,   [ 500 (1+(R/100)2 ] = 583.20 or [ 1+ (R/100)]2 = 5832/5000 = 11664/10000   [ 1+ (R/100)]2 = (108/100)2 or 1 + (R/100) = 108/100 or R = 8   So, rate = 8% p.a.   ANSW8% p.aR 8% p.a 8% p.a
<result>E</result>
If Rs. 600 amounts to Rs. 683.20 in two years compounded annually, find the
rate of interest per annum.