A sum of ₹ 1,000 becomes ₹ 1,144.90 in 2 years. At what rate is the interest is compounded annually?

A sum of ₹ 1,000 becomes ₹ 1,144.90 in 2 years. At what rate is th

1.	A sum of ₹ 1,000 becomes ₹ 1,144.90 in 2 years. At what rate is the interest is compounded annually?
A.	7%
B.	5%
C.	8%
D.	6%
Answer» B. 5%

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A sum of ₹ 1,000 becomes ₹ 1,144.90 in 2 years. At what rate is the interest is compounded annually?

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