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      Question

      The simple interest on a certain sum of money at rate of

      interest 6% per annum for 2 years is Rs. 960. What is the compound interest (compounding annually) on the same sum for the same period and at the same rate of interest?Ā 
      A Rs. 985.4 Correct Answer Incorrect Answer
      B Rs. 988.8 Correct Answer Incorrect Answer
      C Rs. 1122.2 Correct Answer Incorrect Answer
      D Rs. 1025.1 Correct Answer Incorrect Answer

      Solution

      The correct answer is B

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