A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

1. 

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?
[A]. 3%
[B]. 4%
[C]. 5%
[D]. 6%
[E]. None of these

Answer: Option D

Explanation:

S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate = 1-sym-oparen-h1 100 x 3000 1-sym-cparen-h1% = 6%
12500 x 4
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