At what rate of compound interest will a sum of Rs.8000 amount to Rs.8820 in two years?
A
8%
B
10%
C
6%
D
5%
Correct Option - D Explaination
8820 = 8000[(1+(R/100))²]
[1+(R/100)]² = 8820/8000 = 1.1025 = (1.05)²
R = 5%
