A sum of 12,500 amounts to 15,500 in 4 years at the rate of simple interest. What is the rate of interest?  Choose one:
A) 2 %
B) 1 %
C) 6 %
D) 5 %
E) 8 %

Rationale: c 6 % s . i . = ( 15500 - 12500 ) = 3000 . rate = ( 100 x 3000 ) / ( 12500 x 4 ) % = 6 %
Answer: C