1.  A sum of ₹ 12,500 amounts to ₹ 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. = ₹ (15500 - 12500) = ₹ 3000.

Rate = 100 x 3000 % = 6%
12500 x 4