The simple interest on a sum for 8 years is three-fifth of the sum. Find the rate of interest per annum.

Question

The simple interest on a sum for 8 years is three-fifth of the sum. Find the rate of interest per annum.

Options

A.

5 1/2 %

B.

7 1/2 %

C.

6 %

D.

9 %

simple interestinterest ratebasic arithmetic

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