The compound interest and the amount obt...

The compound interest and the amount obtained, on a certain sum of money are Rs 820 and 8,820 respectively after 2 years. If the rate of interest compounded yearly, then the rate of interest is:

A

0.08

B

0.07

C

0.06

D

0.05

Text Solution

Verified by Experts

The correct Answer is:

D

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