Question

The interest earned on investing Rs. 2200 for 2 years at the rate of 20% p.a., compounded annually, is used to purchase an article. If the article is later sold at 30% profit, then find the selling price of the article.

A Rs. 1200.4
B Rs. 1358.4
C Rs. 1258.4
D Rs. 1248.4
E None of these
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