On 3,000 invested at a simple interest rate 6 p.c.p.a, 900 is obtained as interest in certain years. In order to earn 1,600 as interest on 4,000 in the same number of years, what should be the rate of simple interest?\nOptions:\n(A) 7 p.c.p.a.\n(B) 8 p.c.p.a.\n(C) 9 p.c.p.a.\n(D) Data inadequate\n(E) None of these Stream of consciousness:
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Time = 900×100/3000×6 = 5 years\nRate = 1600×100/5×4000 = 8%
Thus, the answer is (B).
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