At the same rate of simple interest, a sum of money grows to Rs. 9800 after 5 years and Rs. 12005 after 8 years. The annual rate of interest is:
A. 5%
B. 8%
C. 12%
D. 15%
Answer:C
At the same rate of simple interest, a sum of money grows to Rs. 9800 after 5 years and Rs. 12005 after 8 years. The annual rate of interest is:
A. 5% B. 8% C. 12% D. 15%