Calculate the rate on a principal of Rs.1500 which yields a simple interest of Rs. 220.50 in 3 Years? Choose the correct choice from the following answers:  A) 6.9%  B) 2.9%  C) 9.9%  D) 5.9%  E) 4.9%
220.50 = (1500*3*R)/100   R = 4.9%   Answer: 4.9%
<result>E</result>
Calculate the rate on a principal of Rs.1500 which yields a simple interest of Rs. 220.50 in 3 Years?