Mathematics · Compound Interest
At what rate of compound interest per annum (compounded annually) will a sum of Rs. 1,000 become Rs. 1,060.90 in 2 years?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 15% per annum
- 23% per annum✓
- 34% per annum
- 42% per annum
Correct answer
3% per annum
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