WBCS.LIVE practice question

The amount payable on maturity of a certain sum of money invested for 5 years at a certain percentage p.a. is Rs. 9,800 and the amount payable on maturity of the same sum of money invested for 10 years at the same rate is Rs. 12,600. If simple interest is paid in both the cases, then find the rate of interest per annum.

Solve this multiple-choice question and check the correct answer with its explanation below.