What is the rate percent when the simple interest on Rs.1200 amount to Rs.400 in 4 Years? Choose the correct choice from the following answers
A) 8.33 %
B) 6 %
C) 2 %
D) 95 %
E) 1 %

Rationale: "interest for 4 yrs = 400 interest for 1 yr = 100 interest rate = 100 / 1200 x 100 = 8.33 % answer : a"
Answer: A