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If in two years time a principal of Rs 100 amounts to Rs 121 when the interest at the rate of r% is compounded annually, then the value of r will be:

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10.5

answer is B.

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Detailed Solution

Concept- Formula Used:
Question Image

In this question, parameters are given as:
Question Image

Now we will determine the rate of interest by substituting the given values in formula
Question Image

As 121 and 100 are squares of 11 and 10, we can express it as follows:
Question Image

Hence, the correct answer is option 2.

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