John invested a certain sum of money in a simple interest bond whose value grew to $300 at the end of 2 years and to $ 500 at the end of another 3 years. What was the rate of interest in which he invested his sum?	Choose the correct choice from the following answers:
A) 12% B) 40% C) 6.67% D) 25% E) 33%
Lets assume the Principal Amount (initial amount invested) to be P   rate of interest to beRand time as T. We need to find R   Now After a time of 2years the principal P amounts to $300 and after a time of 5years ( question says after another 3years so 2+3) P becomes $500.   Formulating the above data   Amount (A1) at end of 2years   A1= P(1 + 2R/100) = 300   Amount (A2) at end of 8years   A2 = P(1 + 5R/100) = 500   Dividing A2 by A1 we get   (1 + 5R/100)/(1 + 2R/100) = 5/3   after cross multiplication we are left with 5R =100*2 which gives R = 40%   Option: 40%
<result>B</result>
John invested a certain sum of money in a simple interest bond whose value grew to $300 at the end of 2 years and to $ 500 at the end of another 3 years. What was the rate of interest in which he invested his sum?