Correct Answer: Option A
Let the rate be R% p.a.
Then, 1200×(1+R/100)2 = 1348.32
=> (1+R/100)2 = 134832/120000=11236/10000
Therefore, {1+R/100}2 = (106/100)2
=> 1+R/100 = 106/100
=> R = 6%
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