Question

A certain sum of money on simple interest amounts to 1,278 in 3 years and to 1,593 in $5\frac 12$ years. Find the rate of interest per annum.

• A. 13%
• B. 14%
• C. 15.5%
• D. 16%

Answer 1

Answer: (B)

14%

Answer 2

The correct option is (B): 14%.