Let the initial side be $$a$$
Hence area of the square = $$a^2$$
New side = $$\frac{121}{100}a$$ = $$1.21a$$
New area = $$(1.21a)^2$$ = $$1.4641a^2$$
Percentage increase in area = $$\frac{1.4641a^2-a^2}{a^2}\times100=46.41\%$$
Hence, the correct answer is Option D
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