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? 
    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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