If the simple interest on a certain sum of money after 3 1⁄8 years is 1⁄4 of

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If the simple interest on a certain sum of money after 3 1⁄8 years is 1⁄4 of the principal, what is the rate of interest per annum?

Options:

A . 6%

B . 4%

C . 8%

D . 12%

Answer: Option C
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