Teacher: In this task, you need to answer the given multiple-choice question on the gain. Gain is the value by which to multiply the input. Classify your answers into 'a', 'b', 'c', 'd', and 'e'.
Teacher: Now, understand the problem? If you are still confused, see the following example:
Problem: on a sum of money , the simple interest for 2 years is rs . 330 , while the compound interest is rs . 340 , the rate of interest being the same in both the cases . the rate of interest is 
Options: a ) 15 % , b ) 14.25 % , c ) 6.06 % , d ) 10.5 % , e ) 11.5 %
Solution: c
Reason: "explanation : the difference between compound interest and simple interest on rs . p for 2 years at r % per annum = ( r ã — si ) / ( 2 ã — 100 ) difference between the compound interest and simple interest = 340 - 330 = 10 ( r ã — si ) / ( 2 ã — 100 ) = 10 ( r ã — 330 ) / ( 2 ã — 100 ) = 10 r = 6.06 % answer : option c"

Now, solve this instance: Problem: on the first of the year , james invested x dollars at proudstar bank in an account that yields 2.2 % in interest every quarter year . at the end of the year , during which he made no additional deposits or withdrawals , he had y dollars in the account . if james had invested the same amount in an account which pays interest on a yearly basis , what must the interest rate be for james to have y dollars at the end of the year ? 
Options: a ) 2.04 % , b ) 6.12 % , c ) 8 % , d ) 8.25 % , e ) 9 %
Student:
e