If the simple interest on $1500 increase by $20,when the time increase by 2 years. Find the rate percent per annum.
Choose the correct answer:
A) 0.6%
B) 0.5%
C) 0.1%
D) 0.2%
E) 0.7%
Applying the above formula, we have   20=1500*r*2/100   r=20*100/1500*2=0.7%.   Answer is 0.7%
<result>E</result>
If the simple interest on $1500 increase by $20,when the time increase by 2 years. Find the rate percent per annum.