On a sum of money, the S.I. for 2 years is $600, while the C.I. is $612, the rate of interest being the same in both the cases. The rate of interest is?	Choose the correct choice from the following options.
A) 3% B) 4% C) 5% D) 6% E) 7%
Difference in C.I. and S.I for 2 years = $612 - $600 = $12   S.I for one year 612 -  600= 
<gadget id="calculator">612 -  600</gadget>
<output>12</output>
$12   S.I for one year= $300   S.I. on $300 for 1 year = $12   Rate = (100 * 12)/(300)= 
<gadget id="calculator">(100 * 12)/(300)</gadget>
<output>4</output>
4%   The answer is 4%.
<result>B</result>
On a sum of money, the S.I. for 2 years is $600, while the C.I. is $612, the rate of interest being the same in both the cases. The rate of interest is?