Find the principle on a certain sum of money at 5% per annum for 2 years if the amount being Rs.1120?
Choose the correct choice.
A) 1018 B) 1067 C) 1977 D) 1056 E) 1097

Rationale: "1120 = p [ 1 + ( 5 * 2 ) / 100 ] p = 1018 answer : a"
Answer: A