The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years

Question

The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is Rs. 840. At what rate of interest the same account of interest can be received on the same sum after 5 years?

Options:

A . 6%

B . 8%

C . 9%

D . 10%

Answer: Option B

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