Q: Suppose a bank gives an interest of 10% per annum compounded annually for a fixed deposit for a period of two years. What should be the simple interest rate per annum if the maturity amount after two years is to remain the same?
(a)10%
(b)10.5%
(c)11%
(d)12%
Correct Answer: (b)
The correct answer is (c) '11%'. This question from the Quantitative Aptitude & Data Interpretation domain tests knowledge of Numerical Ability.