On a sum of money, the simple interest for 2 years is Rs. 326, while the compound interest is Rs. 340, the rate of interest being the same in both the cases. The rate of interest is  Pick:
A) 15%  B) 14.25%  C) 8.58%  D) 10.5%  E) 11.5%
Explanation:   The difference between compound interest and simple interest on Rs. P for 2 years at R% per annum   = (R Ã— SI)/(2 Ã— 100)   Difference between the compound interest and simple interest = 340 - 326= 
<gadget id="calculator">340 - 326</gadget>
<output>14</output>
14   (R Ã— SI)/(2 Ã— 100)= 14   (R Ã— 326)/(2 Ã— 100) = 14   R = 8.58%   Answer: Option 8.58%
<result>C</result>
On a sum of money, the simple interest for 2 years is Rs. 326, while the compound interest is Rs. 340, the rate of interest being the same in both the cases. The rate of interest is