At what rate of compound interest per annum will a sum of Tk. 1200 become Tk. 1348.32 in 2 years?

At what rate of compound interest per annum will a sum of Tk. 1200 become Tk. 1348.32 in 2 years? Correct Answer 6%

Hints : Let , Rate will be R% Compound Interest formula C = P (1 + r)n 1348.32 = 1200 (1 + r) 2 1348.32/1200 = (1 + r)2 R = 6%
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