On a sum of money, the S.I. for 2 years is $600, while the C.I. is $630, the rate of interest being the same in both the cases. The rate of interest is? Choose the correct answer
A) 8% B) 10% C) 12% D) 14% E) 16%
Difference in C.I. and S.I for 2 years = $630 - $600 = $30   S.I for one year 630 -  600= 
<gadget id="calculator">630 -  600</gadget>
<output>30</output>
$30   S.I for one year= $300   S.I. on $300 for 1 year = $30   Rate = (100 * 30)/(300)= 
<gadget id="calculator">(100 * 30)/(300)</gadget>
<output>10</output>
10%   The answer is 10%.
<result>B</result>
On a sum of money, the S.I. for 2 years is $600, while the C.I. is $630, the rate of interest being the same in both the cases. The rate of interest is?