At what rate of compound interest per annum will a sum of

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

Here , Amount ( A ) = ₹ 1348.32 , P = ₹ 1200 , Rate ( R ) = ? , Time = 2 years

A = P		1 +	R		^T
			100

⇒ 1348.32 = 1200		1 +	R		²
			100

⇒	1348.32	=		1 +	R		²
	1200				100

⇒	134832	=		1 +	R		²
	120000				100

⇒	11236	=		1 +	R		²
	10000				100

⇒		106		²	=		1 +	R		²
		100						100

⇒	106	= 1 +	R
	100		100

⇒ 1 +	6	= 1 +	R
	100		100

⇒ R = 6% per annum.