A sum of money, when invested at a certain rate of compound interest per year, became 1.21 times the sum invested on maturity after two years. What was the rate of compound interest per annum?

A sum of money, when invested at a certain rate of compound interest p

1.	A sum of money, when invested at a certain rate of compound interest per year, became 1.21 times the sum invested on maturity after two years. What was the rate of compound interest per annum?
A.	11%
B.	10.5%
C.	10%
D.	9.9%
Answer» D. 9.9%

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A sum of money, when invested at a certain rate of compound interest per year, became 1.21 times the sum invested on maturity after two years. What was the rate of compound interest per annum?

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